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STRATEGIC MINERALS ISSUES COMMON SHARES IN SATISFACTION OF INTEREST PAYMENT OBLIGATIONS TO CERTAIN CONVERTIBLE DEBENTURE HOLDERS
STRATEGIC MINERALS ISSUES COMMON SHARES IN SATISFACTION OF INTEREST PAYMENT OBLIGATIONS TO CERTAIN CONVERTIBLE DEBENTURE HOLDERS.
About this update from Strategic Minerals Europe Corp.
[{"type":"text","content":"\n\n\n\nSTRATEGIC MINERALS ISSUES COMMON SHARES IN SATISFACTION OF INTEREST PAYMENT OBLIGATIONS TO CERTAIN CONVERTIBLE DEBENTURE HOLDERS\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\nSTRATEGIC MINERALS ISSUES COMMON SHARES IN SATISFACTION OF INTEREST PAYMENT OBLIGATIONS TO CERTAIN CONVERTIBLE DEBENTURE HOLDERS\nCanada NewsWire\nTORONTO, Jan. 2, 2024\n\n\n\nTORONTO, Jan. 2, 2024 /CNW/ - Strategic Minerals Europe Corp. (NEO: SNTA) (OTCQB: SNTAF) (FRA: 26K0) (\"Strategic Minerals\" or \"the Company\"), a company focused on the production, development, and exploration of tin, tantalum, and niobium, announces that, pursuant to the previously-announced non-brokered private placement offering on September 26, 2022 of convertible debenture units of the Company (the \"Units\"), the Company has issued 1,243,750 common shares (the \"Common Shares\") in satisfaction of interest payments to certain holders of the Convertible Debentures (as defined herein) underlying the Units (the \"Holders\").\n\nEach Unit consisted of (i) one 10% senior unsecured convertible debenture (the \"Convertible Debentures\") having a face value of C$1,000, convertible into Common Shares at a conversion price of C$0.25 per Common Share and maturing on October 13, 2024; and (ii) 4,000 common share purchase warrants of the Company.\nThe Convertible Debentures are governed by the terms and conditions of a debenture certificate entered into between the Company and each Holder (the \"Debenture Certificate\"). Pursuant to the Debenture Certificate, the Convertible Debentures bear interest at a rate of 10.0% per annum, payable semi-annually in arrears by the Company on the last day of December and June. Interest is payable in either cash or Common Shares, not both, at the election of the Holder.\nCertain Holders elected to have their December 31, 2023 interest payment (the \"Third Interest Payment Date\") paid in Common Shares. The aggregate amount of the interest payment due to the Holders is a total of C$24,875.00.\nThe Common Shares have been issued at a price of C$0.02 per Common Share, which represents the ...