ENP Newswire -
Release date- 20022014 -
The funds are to be used to cover necessary employee and corporate expenses arising over the next month while production ramps up again and Besra pursues its financing initiatives to conclusion, as disclosed previously in the Company's media release dated
The issuance was approved by the board of directors with one director having declared his conflict of interest and having abstained from voting.
Funds will be advanced as and when requested by the Company.
The lending group will be issued 3,000,000 warrants to acquire common shares at an exercise price of
The loan is secured with a general security interest over the company's assets. Interest is payable at 12%. The events of default and covenants are customary for a loan of this nature.
Ste 500, 10 King St E
Toronto ON M5C 1C3
Tel: +1 416 5722525
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