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KAINANTU RESOURCES ANNOUNCES CLOSING OF THE FINAL TRANCHE OF ITS PREVIOUSLY ANNOUNCED C$1.8 MILLION CONVERTIBLE DEBENTURE FINANCING
KAINANTU RESOURCES ANNOUNCES CLOSING OF THE FINAL TRANCHE OF ITS PREVIOUSLY ANNOUNCED C$1.8 MILLI...
About this update from South Pacific Metals Corp.
[{"type":"text","content":"\n \n \n \n KAINANTU RESOURCES ANNOUNCES CLOSING OF THE FINAL TRANCHE OF ITS PREVIOUSLY ANNOUNCED C$1.8 MILLION CONVERTIBLE DEBENTURE FINANCING\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 /NOT FOR DISTRIBUTION TO\n \n UNITED STATES\n \n NEWSWIRE SERVICES OR FOR RELEASE, PUBLICATION, DISTRIBUTION, DISSEMINATION, DIRECTLY OR INDIRECTLY IN OR INTO\n \n THE UNITED STATES\n \n /\n \n \n \n \n VANCOUVER, BC\n \n \n ,\n \n \n Sept. 15, 2023\n \n \n /CNW/ - Kainantu Resources Ltd. (TSXV: KRL) (FSE: 6J0) (\"\n \n KRL\n \n \" or the \"\n \n Company\n \n \"), the\n \n Asia-Pacific\n \n focused gold mining company, is pleased to announce the closing of its private placement financing of\n \n C$1.27 million\n \n (the \"\n \n Offering\n \n \"), originally announced on\n \n \n May 30, 2023\n \n \n .\n \n \n \n \n \n \n \n \n \n In the first tranche of the Offering, the Company has issued senior convertible debenture units with an aggregate principal amount of\n \n C$503,164.06\n \n , as announced on\n \n \n June 22, 2023\n \n \n .\n \n \n In the second tranche of the Offering, the Company has issued senior convertible debenture units with an aggregate principal amount of\n \n C$296,835.94\n \n , as announced on\n \n \n July 18, 2023\n \n \n .\n \n \n In the third tranche of the Offering, the Company has issued senior convertible debenture units with an aggregate principal amount of\n \n C$310,000\n \n .\n \n \n In this final tranche of the Offering, the Company has issued senior convertible debenture units (the \"\n \n Debenture Units\n \n \") with an aggregate principal amount of\n \n C$160,000\n \n .\n \n \n Each Debenture Unit consists of: (i) a 10% convertible secured debenture (a \"\n \n Convertible Debenture\n \n \") convertible into common shares of the Company (\"\n \n Common Shares\n \n \") at a conversion price of\n \n C$0.08\n \n per common share (the \"\n \n Conversion Price\n \n \") at any time given a period commencing 12 months from the closing date and ending on the date that is 36 months from the closing date, provided...