Peruvian Precious Metals Corp. Announces Completion of Convertible Debenture Financing
March 26, 2015
NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES.
Vancouver, British Columbia – March 26, 2015 – Peruvian Precious Metals Corp. (the “Company“) is pleased to announce the closing of its previously announced non-brokered private placement of a convertible debenture in the principal amount of US$200,000.00 to one subscriber with the following material attributes:
Principal Due: March 26, 2016
Interest Rate: 13%/year; payable every four months; first payment due Sep. 30, 2015
Conversion Price: US$0.085 per common share
The subscriber may convert all or part of the outstanding principal amount of the debenture into common shares at the conversion price of US$0.085 per share at any time during the term of the debenture. The debenture is non-transferable without the consent of the Company.
In consideration for introducing the Investor to the Company, Mr. Tomas Silva will receive 166,960 common shares. Mr. Silva’s common shares and the subscriber’s debenture will be subject to a hold period and may not be traded until July 27, 2015, except as permitted by securities legislation and the TSX Venture Exchange.
The Company intends to use the proceeds of the private placement for general working capital purposes and development of the Igor project.
On behalf of the Board of Directors
Brian J. Maher
President and Chief Executive Officer
FOR FURTHER INFORMATION, PLEASE CONTACT:
Peruvian Precious Metals Corp.
Kimberly Ann Arntson, Vice President – Corporate Development
Email: [email protected]
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.