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RUSORO MINING LTD. ANNOUNCES ISSUANCE OF PROMISSORY NOTES
RUSORO MINING LTD. ANNOUNCES ISSUANCE OF PROMISSORY NOTES Canada NewsWire /TH...
About this update from Rusoro Mining Ltd.
[{"type":"text","content":"\n \n \n \n RUSORO MINING LTD. ANNOUNCES ISSUANCE OF PROMISSORY NOTES\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.prntac{\nTEXT-ALIGN: CENTER\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n /THIS PRESS RELEASE IS NOT INTENDED FOR RELEASE OR DISSEMINATION IN\n \n THE UNITED STATES\n \n /\n \n \n \n \n \n VANCOUVER, BC\n \n \n ,\n \n \n March 24, 2023\n \n \n /CNW/ -\n \n Rusoro Mining Ltd.\n \n (TSXV: RML)\n \n (\n \n the\n \n \"Company\"\n \n or\n \n \"Rusoro\")\n \n announces a non-brokered private placement of unsecured, non-interest bearing, promissory notes in the principal amount of\n \n US$2,130,000\n \n (the \"\n \n Notes\n \n \").\n \n \n The Notes will not have any fixed maturity date. The amount payable to the subscribers under the Notes will be four times the principal amount which each subscriber pays to the Company pursuant to the subscription agreement and shall only become due and payable from proceeds received by the Company pursuant to any successful enforcement of its arbitral award against the Bolivarian Republic of\n \n Venezuela\n \n for its unlawful expropriation of the Company's Venezuelan investments.\n \n \n Each subscriber will also be issued non-transferable share purchase warrants entitling the subscriber to purchase that number of common shares (each, a \"\n \n Share\n \n \") of the Company as is equal to 50% of the principal amount which the subscriber pays to the Company pursuant to the subscription agreement (the \"\n \n Warrants\n \n \"). Accordingly, a total of 1,065,000 Warrants will be issued to subscribers if the Notes are fully subscribed. Each Warrant will be exercisable for a period of five years from the closing of the private placement at a price of\n \n CAD$0.10\n \n per Share. Shares acquired on exercise of the Warrants will be subject to a statutory hold period of four months and one day from the date of closing.\n \n \n Proceeds from the private placement will be applied to payment of legal expenses relating to the Company's ongoing activities to enforce its arbitral award against the Bolivarian Republic of\n \n Venezue...