NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
Vancouver, British Columbia – February 26, 2015 – Peruvian Precious Metals Corp. (the “Company“), is pleased to announce a non-brokered private placement of a convertible debenture in the principal amount of US$200,000.00 (the “Debenture“) to one subscriber (the “Investor“) with the following material attributes:
Term: 1 year from closing
Interest Rate: 13% per annum, payable every four months, with the first payment due September 30, 2015.
Conversion Price: US$0.085 per share
The principal amount owing under the Debenture will be due and payable on the first anniversary of the closing date (the “Maturity Date“). The Investor may convert all or part of the outstanding principal amount of the Debenture into common shares of the Company (the “Conversion Shares“) at the conversion price of US$0.085 per share (the “Conversion Price“) at any time during the term of the Debenture.
The Debenture is non-transferable unless otherwise agreed to by the Company.
In consideration for introducing the Investor to the Company, will pay a finder’s fee of 166,960 common shares of the Company (“Finder’s Shares“) to a certain individual(s) in accordance with TSX Venture Exchange guidelines and regulations.
The proceeds of the Debenture will be used to fund current and proposed financial commitments and for general working capital purposes and development of the Igor project. The closing of the private placement is subject to regulatory approval.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws, unless an exemption from such registration is available.
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.