Stockport Exploration Inc. Announces Proposed Extension of Convertible Notes
28.03.2018 | The Newswire
Halifax, March 28, 2018 - Stockport Exploration Inc. (TSXV: SPT) ("Stockport" or the "Company") announces that its $295,000 loan financing (the "Loans") from various directors, officers, and other private investors of the Company of 15% unsecured convertible notes (the "Notes") will have the maturity date extended by eighteen (18) months, subject to TSX Venture Exchange approval.Under the terms of the financing, the principal amount of the Loans bear interest at 15% per annum, payable quarterly and will be repayable by the Company on or before September 27, 2019 (formerly March 27, 2018) (the "Maturity Date"). The principal amount of the Notes is convertible into common shares of the Company at the election of the holder at the rate of $0.05 of principal converted per share (post Amalgamation with Sona Nanotech Ltd - $0.20 per share)
For More Information
For more information about Stockport Exploration, please contact:
James Megann, President and Chief Executive Officer
Telephone: (902) 442-7192
Email: jmegann@stockportexploration.com
Neither Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Exchange) accepts responsibility for the adequacy or accuracy of this release.
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