Global Green Matrix Completes Second Tranche of Convertible Debenture
17 Aprile 2013 - 5:16PM
Access Wire
April 17, 2013 - Global Green Matrix Corporation ("Global Green"
or the "Company") - TSX Venture: GGX -announces that it has,
subject to TSX - Venture Exchange final approval, completed the
second tranche of its Convertible Debenture previously announced on
March 7, 2013 for the gross amount of $200,000. The Debentures will
bear interest at a rate of 12.00% per annum, payable semi-annually
from the Closing Date and will also contain an overriding royalty
of 2.00% per annum on the gross revenue earned by the New Units,
payable semi-annually from the Closing Date. The debentures may be
converted into common shares of the Company at a price of: $0.50
for the first twelve months; $1.00 for the second twelve months;
and $1.50 after the first twenty-four months commencing on the
closing date on option of the holder.
The total for the Debentures for both tranches is $445,000. A
finder's fee of $20,000 cash may be paid on receipt of TSX-V
approval.
The Company is also proposing to complete a further private
placement of convertible debentures for additional gross proceeds
of $2,500,000 with the same terms and conditions as stated above.
Closing of the placement will be subject to approval by the TSX -
Venture Exchange.
Use of Proceeds: The net proceeds (net of commissions and
offering expenses) will be used to finance 3 new truck units.
Estimated cost of $2.1 million; $300,000 to be held in escrow for
first 12 month interest; the balance to be used for working
capital.
The Company further announces that pursuant to the Company's
Stock Option Plan it wishes to grant up to 7 million stock options
at a price of $0.10 per common share to employees, directors,
advisors and consultants of the Company. As per the Company's Stock
Option Plan, the options granted will be exercisable until April
17, 2018. Grant of the options is subject to the approval of the
TSX Venture Exchange.
About Global Green Matrix Corp.
(www.globalgreenmatrix.com) Global Green Matrix Corp is an
Oilfield Services Firm primarily focused on servicing oil and gas
companies and their fracking operations. Through its wholly owned
subsidiary, Intercept Rentals, the Company currently owns and
operates one truck and one trailer mounted water heating unit,
called "Big Heat." Global Green rents these units to various oil
and gas companies that require heated water for their fracking
operations. The companies heating units have the ability to heat
water on a continuous flow basis.
ABOUT INTERCEPT RENTALS:
(www.interceptrentals.com)Intercept Rentals is a registered
trade name of 1503866 Alberta Ltd., a wholly owned subsidiary of
Global Green Matrix Corp. The subsidiary company has obtained the
exclusive right to own and operate a new patent pending technology
that provides a highly efficient and safe method of heating water
used by oil companies in their fraccing operations.
For further information visit our website at
www.globalgreenmatrix.com, email at info@globalgreenmatrix.com or
contact:
Randy Hayward, President
Global Green Matrix Corp.
Phone: 250-247-8689 or 604-687-8855
Fax: 604-628-5001
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 News Release
Grafico Azioni GGX Gold (TSXV:GGX)
Storico
Da Mag 2024 a Giu 2024
Grafico Azioni GGX Gold (TSXV:GGX)
Storico
Da Giu 2023 a Giu 2024
