Intigold Mines Ltd. (OTCPK:IDMN.F) announced a private placement of unsecured transferable convertible debenture for gross proceeds of CAD 200,000 on September 22, 2016. The debenture carries a fixed coupon of 12% per annum paid annually in arrears. The subscribers may, for a period of two years after closing convert all or any part of the principal amount outstanding under debentures into units of the company at a price of CAD 0.06 per unit for first year and CAD 0.10 per unit for second year, or subject to the acceptance of the exchange, the interest that has accrued on the principal amount outstanding under the debentures into units at a price per unit which equals the market price, but not less than CAD 0.15, at the time the accrued interest becomes payable, or if the market price of the company's shares trade above CAD 0.25 for ten consecutive days, then the company may force the holder of the debentures to convert its principal and accrued interest into units at a price of CAD 0.25 per unit. Each unit will consist of a common share and one-half of transferable common share purchase warrant of the company. Each warrant will entitle the holder to purchase one post-consolidated common share of the company on the date that is two years from the date of issuance of the debenture at an exercise price of CAD 0.15 per warrant share, subject to adjustment in certain events. The securities issued are subject to a hold period of four month. The transaction is subject acceptance of TSX Venture Exchange.