NINE MILE METALS LTD. On December 15, 2023, Nine Mile Metals Ltd. closed the transaction. The company has closed the transaction for 15% convertible term loan for the gross proceeds of CAD 201,000. The Convertible Loans have a term of 12 months from the closing and bear interest at 15%.
The loans will be convertible at the election of each of the 19 lenders as of the Maturity Date at a price of CAD 0.10 per Unit. Each Unit will be comprised of one common share and one common share purchase warrant and each Warrant will be exercisable at CAD 0.10 per share for a period of 24 months. The transaction included participation from Charles MaLette for CAD 25,000.
The company has paid finders fees of CAD 10,400 in cash and 104,000 Warrants were received by Research Capital Corporation as a Finder?s Fee for the Convertible Loan.
