Copper Cowboy Announces Offering of Units and Enters Into a Loan Agreement
![Copper Cowboy Announces Offering of Units and Enters Into a Loan Agreement](https://www.minenportal.de/media/goldseiten-news.jpg)
The Company also reports that it has entered into a loan agreement with a Director (the "Loan Agreement"). Pursuant to the Loan Agreement, the lender has agreed to loan to the Company the principal amount of $20,000. The amount of the loan is unsecured and bears interest at the rate of 10% per annum. The term of the Loan Agreement is for one year and provides that at any time after June 1, 2015, the lender is entitled to demand repayment of the outstanding amount of the loan. The proceeds from the loan will be used towards general working capital.
In consideration for the lender agreeing to provide the loan, the Company has issued 100,000 common shares ("Bonus Shares"), at a deemed price of $0.05 per share. The Bonus Shares will be subject to a hold period that expires on October 26, 2014.
Copper Cowboy also announces that certain Directors and officers have exercised, and the Company has issued a total of 2,150,000 options previously issued under the Company's stock option plan.
On Behalf of the Board of Directors, Copper Cowboy Resources Inc.
Per:
"Michael Mulberry"
CEO, President and Director
Canadian National Stock Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this news release.
Not for Distribution in the United States or to U.S. Persons.