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Fieldex $250,000 convertible debenture financing
The TSX Venture Exchange has accepted for filing documentation with respect to a non-brokered private placement by way of a convertible debenture as announced on April 12, 2005.
Convertible debenture: $250,000
Conversion price: Convertible into units consisting of one common share and one share purchase warrant at 30 cents per unit in year one and two, and 35 cents thereafter
Maturity: 36 months
Warrants: The share purchase warrants are available at a price of 35 cents per share. The warrants will expire either two years after the issuance date or the expiry date of the convertible debenture, whichever date comes first.
Interest rate: 12 per cent
Placees: Two placees participated