Carbon2Green Corporation : Closing of the Financing of $190,000 Through Convertible Debentures
01 October 2010 - 12:26AM
Marketwired Canada
Carbon2Green Corporation (TSX VENTURE:CGN) ("Carbon2Green" or the "Corporation")
is proud to announce the closing of a financing of $190,000 through convertible
debentures in Common Shares, as disclosed by press release on August 27, 2010.
The convertible debentures to be issued will have a term of 24 months, bearing
an interest rate of 14% per annum and payable annually at the anniversary date
of the execution of the convertible debenture. While the capital will be
convertible at a price of $0.25 per Common Share. Each issued Common Share will
be subject to a 4 month holding period. A number of 760,000 Common Shares of the
Corporation is reserved with the TSX Venture Exchange in order to guaranty the
conversion right of its holders. The TSX Venture Exchange having approved the
placement, the funds are intended to provide adequate working capital to the
Corporation and to support the viability of any projects that may arise.
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