ENP Newswire -
Release date- 24072014 -
The debenture will not bear interest and is payable on maturity, 12 months from the date of advance of funds. Cassidy may repay the debenture in whole or in part prior to maturity without notice, bonus or penalty, at its sole discretion.
The debenture is convertible into common shares of Cassidy at the option of AI at a deemed price of
Cassidy also announces that it will conduct a non-brokered private placement of common shares of the Company (the 'Shares') at a price of
Shares acquired by AI and the placees will be subject to a hold period of four months plus one day from the date of completion of the financing in accordance with applicable securities legislation. The Shares will not be issued to AI until the shareholders of Cassidy have approved the creation of a new control person at its upcoming AGM.
No finders' fees will be paid in connection with the loan or the private placement financing.
Cassidy will use the proceeds from the convertible debenture and private placement to fund the capital expenditure requirements for the development of the
Development will include the purchase of a complete
Cassidy is a Canadian mineral development company focused on gold discovery in the
Tel: (250) 574-5011
This news release contains certain statements that may be deemed 'forward-looking statements. Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words 'expects', 'plans', 'anticipates', 'believes', 'intends', 'estimates', 'projects', 'potential' and similar expressions, or that events or conditions 'will', 'would', 'may', 'could' or 'should' occur.
Most Popular Stories
- PBS Series Examines America's Demographic Shift
- Tim Cook Has Proved That Apple is His Baby
- Royals Beat A's in 12-inning Wild Card Thriller
- Construction Spending Down Again for August
- Texas Sees Gains in Hispanic College Enrollment
- Americans Bet Big on Gambling Industry
- California's Ban on Plastic Bags: What Now?
- Petri Likely Broke House Ethics Rules
- Exxon Gives Nod to Fracking Risks
- Morgan: 'Can't Believe' Wal-Mart Blaming Him