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Article: Avanti Mining Announces Definitive Agreement for Conversion by RCF of 75% of the Convertible Loan Into Units.
- Article from:
- Marketwire Canada
- Article date:
- October 5, 2009
CopyrightCOPYRIGHT 2009 Canadian Corporate News. News Provided by Comtex. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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VANCOUVER, BRITISH COLUMBIA, Oct 5, 2009 (Marketwire via COMTEX) -- Avanti Mining Inc. ("Avanti") (TSX VENTURE:AVT) announces that it has entered into a definitive agreement with Resource Capital Fund IV L.P. ("RCF") for the previously announced conversion of US$15,116,667 of the existing Convertible Bridge Loan into units of Avanti at a conversion price of C$0.16 per unit. Each Unit will consist of one common share and one half of one share purchase warrant. Each whole warrant will give RCF the right to purchase one share for a period of four years from the date of issuance at an exercise price $0.216. RCF has further agreed to fix the conversion price of the remaining ...