18:54:01 EDT Thu 28 Mar 2024
Enter Symbol
or Name
USA
CA



Canadian Quantum Energy Corp
Symbol CQM
Shares Issued 58,391,166
Close 2014-10-16 C$ 0.07
Market Cap C$ 4,087,382
Recent Sedar Documents

Canadian Quantum arranges $550,000 debenture offering

2014-10-21 12:21 ET - News Release

Mr. Douglas Brett reports

CANADIAN QUANTUM ANNOUNCES PROPOSED SERIES 2 DEBENTURE OFFERING

Canadian Quantum Energy Corp., further to its press releases dated April 25, 2014, May 6, 2014, May 26, 2014, and June 2, 2014, and pursuant to the investment agreement with Lang International Holdings Ltd., a company registered in the British Virgin Islands, has provided written notice to Lang that it intends to complete an offering of Series 2 convertible debentures in the aggregate principal amount of $550,000, pursuant to which Lang or any of its associates or affiliates may purchase up to the entire principal amount of the Series 2 debentures.

The Series 2 debentures will be secured against the personal property of the company and a portion of the company's interest in the Alexander project, convertible at a price of 12 cents per common share, mature on March 30, 2016, and will bear interest at a rate of 10 per cent per annum. The Series 2 debentures shall rank pari passu with the outstanding Series 1 debentures in the aggregate principal amount of $1,870,479.46, and the outstanding loan from Douglas Brett, the president and chief executive officer of the company, in the principal amount of $235,000.

The closing of the offering is expected to occur on or about Oct. 29, 2014, and is subject to approval of the TSX Venture Exchange. All securities issued in connection with the offering will be subject to a four-month hold period from the date of closing. The net proceeds from the offering of the Series 2 debentures will be used for completion work at the company's Alexander project, and for general working capital.

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