Business
Para Announces Restructuring of Shareholders' Loans into a 5 Year Convertible Subordinated Note
Vancouver, British Columbia--(Newsfile Corp. - July 11, 2018) - Para Resources Inc.  (TSX...
About this update from Soma Gold Corp.
[{"type":"text","content":"Para Announces Restructuring of Shareholders' Loans into a 5 Year Convertible Subordinated NoteVancouver, British Columbia--(Newsfile Corp. - July 11, 2018) - Para Resources Inc.  (TSXV: PBR) (WKN: A14YF1) (OTC Pink: PRSRF) (the \"Company\" or \"Para\") is pleased to announce that it has signed a Term Sheet with Conex Services Inc. and Conterra Construction, Inc., both controlled by an Insider of the Company, whereby all outstanding loans and accrued interest, previously made to Para and to its subsidiary Gold Road Mining Corp. (or other subsidiaries), are being re-structured into a five-year Convertible, Subordinated Note. Subject to the approval of the TSX Venture Exchange, the Terms of the Note are as follows:Issuer:                                         Para Resources Inc (TSXV:PBR) (the \"Company\")Lenders:                                      Conex Services Inc. and Conterra Construction Inc.Amount:                                       C$ 10,652,533Issue Date:                                 August 3rd, 2018 or on such date that the financing closesOffering:                                       Non-brokered placement of CAD $10,652,533 in the form of a Convertible Subordinated Notes, convertible into Common Shares of the Company.Term:                                            Sixty months from the issue dateRepayment:                                The principal...