Moag Announces Closing of Private Placement of Convertible Debentures
Toronto, ON / TheNewswire / August 4, 2015-MOAG Copper Gold Resources Inc. ("Moag")(CSE:MOG) (OTCQB:MGCPF) announced today that it has closed its private placement of 10% Convertible Debentures for proceeds of USD $2,995,000. The Convertible Debentures have a Maturity Date of December 1, 2016 and are convertible into common shares of Moag at a price of CDN$0.20 per share.
Finder's fees of USD $299,500 were paid on the private placement.
Moag also announced today that CDN $950,000 of 10% Convertible Debentures matured on June 30, 2015. Holders of Convertible Debentures in the principal amount of USD $560,000 have converted their Convertible Debentures into new 12% USD Convertible Debentures. The 12% Convertible Debentures have a Maturity Date of July 1, 2017 and are convertible into common shares of Moag at a price of CDN$0.20 per share.
Finder's fees of USD $56,000 were paid on the conversion.
On Behalf of the Board
Bradley L. Jones, CPA, CA
Chief Operating Officer & CFO
For further information please contact:
| Bradley L. Jones, COO & CFO (416) 510 8397 bradley.jones@moag.ca http://www.moag.ca/ |
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