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P2 Gold Closes Second Tranche of Convertible Debenture Unit Offering
P2 Gold Closes Second Tranche of Convertible Debenture Unit Offering Canada NewsWire ...
About this update from P2 Gold Inc.
[{"type":"text","content":"\n \n \n \n P2 Gold Closes Second Tranche of Convertible Debenture Unit Offering\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n \n VANCOUVER, BC\n \n \n ,\n \n \n March 14, 2024\n \n \n /CNW/ -\n \n P2 Gold Inc.\n \n (\"P2\" or the \"Company\") (TSXV: PGLD) (OTCQB: PGLDF) reports that it has closed the second tranche (the \"Second Tranche\") of the non-brokered private placement of convertible debenture units (the \"Units\") at\n \n $1,000\n \n per Unit, for gross proceeds of\n \n $1,665,000\n \n (the \"Offering\"), previously announced on\n \n February 13, 2024\n \n and\n \n March 5, 2024\n \n . The Second Tranche consisted of 303 Units for gross proceeds of\n \n $303,000\n \n .\n \n \n \n \n \n \n \n \n \n Each Unit consists of one convertible debenture (a \"Convertible Debenture\") with a principal amount of\n \n $1,000\n \n and 12,500 Share purchase warrants (the \"Warrants\").\n \n \n The Convertible Debentures will bear interest at a rate of 7.5%, payable semi-annually on the last day of June and December of each year, commencing on\n \n June 30, 2024\n \n . Interest will be paid in common shares in the capital of the Company (\"Shares\") based on the greater of the Market Price (as defined in the policies of the TSX Venture Exchange (the \"Exchange\")) and 15-day volume weighted average price (\"VWAP\") of the Shares on the Exchange or cash, at the Company's election, subject to Exchange approval. The Convertible Debentures will have approximately a two-year term (the \"Term\"), with the principal amount being due to be repaid in full by the Company on\n \n January 31, 2026\n \n (the \"Maturity Date\"). At any time during the Term, the Company will have the option to extend the Term by up to one additional year on payment of an extension fee to the holders of the Convertible Debentures (the \"Holders\") in the amount of six month's interest payable in Shares based on the greater of the Market Price and the 15-day VWAP or cash, at the Company's election, subject to Exchange approval. The Convertible Debentures...