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File: 15-05-04 ELT Convertible Final.docx
May 4th 2015
TSX.V Symbol: ELT
Frankfurt Symbol: A14NCM
Electra announces Private Placement of up to $850,000 of
Convertible Debenture(s)
This news Release is intended for distribution in Canada only and is not authorized for distribution to United States
--->Newswire Services for dissemination in the United State.
VANCOUVER, May 4th, 2015 (TSXv:ELT) (FSE:A14NCM) (the "Company" or "Electra") is pleased to announce, subject to TSX V
--->enture Exchange (TSXV) and if required shareholder approval, a private placement of up to $850,000. by the issuance of
---> convertible debenture(s).
Of the $850,000 proposed, the Company has entered into a $350,000 convertible loan agreement with Costigan Capital Cor
--->p. a private consulting company controlled by John A Costigan the President and CEO of Electra Stone Ltd.
John A Costigan, President and director of Electra Stone Ltd, (TSXv:ELT) comments:
"I believe that the new direction of Electra (as exemplified by it's entry into the Jade sector) will not only be the
--->fulcrum for increased profitability but will allow Electra to execute on a myriad of jade and industrial mineral oppor
--->tunities. This loan agreement clearly demonstrates my confidence in the financial soundness of this new strategic dire
--->ction."
Description of Loan Agreement
This is an unsecured 2 year Convertible Loan bearing 12 % interest per annum. The lender has an option to convert up t
--->o 100% of the principal amount of the loan outstanding plus interest compounded into units of ELT. The conversion pri
--->ce is $0.05 during the first year and thereafter the greater of $0.10 and the market price as defined by TSXV policies
--->. Units are described as one share and one warrant, with each warrant being exercisable to purchase one share any time
---> during the 24 month period from the issue date.
The proceeds will be utilized for equipment purchases, jade project development, ongoing operations and corporate deve
--->lopment.
About Costigan Capital Corporation
Costigan Capital Corporation is a private Consulting Corporation headquartered in Vancouver BC.
Management Changes
The Company has accepted the resignations of Johan Shearer as a Director of the Company and from Jody Bellefleur as Ch
--->ief Financial Officer. Management would like to thank Jo Shearer for his dedication and service to ELT for more than
--->a decade and Jody Bellefleur for her tireless devotion during the reorganization and transition of the Corporation.
About Electra Stone Ltd.
Electra Stone Ltd. (the "Company") (formerly Electra Gold Ltd.) is a mining company, specializing in the development o
--->f and exploration for industrial minerals and dimensional stone. The Company is in the process of mining the Apple Ba
--->y mineral properties located on Vancouver Island near Port Hardy, British Columbia. The mineral claims are located on
---> crown land within the traditional territory of Quatsino First Nation Band. The Company has also recently entered int
--->o the dimensional stone sector with a current focus on Nephrite Jade exploration in British Columbia. The Company cur
--->rently trades on the TSX Venture Exchange under the symbol ELT.
For further information or interests on British Columbia Jade or Electra Stone please contact Tyler Lowes at tyler@ele
--->ctrastone.com or call 604-681-1568.
On behalf of the Board of Directors
"John Costigan"
President and Director
Forward-Looking Statements:
This press release contains forward-looking information or forward-looking statements (collectively "forward-looking i
--->nformation") within the meaning of applicable securities laws. Forward-looking information is typically identified by
--->words such as: "believe", "expect", "anticipate", "intend", "estimate", "proposed", "postulate" and similar expression
--->s, or are those, which, by their nature, refer to future events. The Company cautions investors that any forward-looki
--->ng information provided by the Company is not a guarantee of future results or performance, and that actual results ma
--->y differ materially from those in forward-looking information as a result of various factors. The reader is referred t
--->o the Company's public filings for a more complete discussion of such risk factors and their potential effects which m
--->ay be accessed through the Company's profile on SEDAR at www.sedar.com.
File: 15-05-04 ELT Convertible Final.pdf
May 4th 2015
TSX.V Symbol: ELT
Frankfurt Symbol: A14NCM
Electra announces Private Placement of up to $850,000 of
Convertible Debenture(s)
This news Release is intended for distribution in Canada only and is not authorized for distribution to
United States Newswire Services for dissemination in the United State.
VANCOUVER, May 4th, 2015 (TSXv:ELT) (FSE:A14NCM) (the "Company" or "Electra") is pleased
to announce, subject to TSX Venture Exchange (TSXV) and if required shareholder approval, a
private placement of up to $850,000. by the issuance of convertible debenture(s).
Of the $850,000 proposed, the Company has entered into a $350,000 convertible loan agreement
with Costigan Capital Corp. a private consulting company controlled by John A Costigan the
President and CEO of Electra Stone Ltd.
John A Costigan, President and director of Electra Stone Ltd, (TSXv:ELT) comments:
"I believe that the new direction of Electra (as exemplified by it's entry into the Jade sector) will
not only be the fulcrum for increased profitability but will allow Electra to execute on a myriad of
jade and industrial mineral opportunities. This loan agreement clearly demonstrates my confidence
in the financial soundness of this new strategic direction."
Description of Loan Agreement
This is an unsecured 2 year Convertible Loan bearing 12 % interest per annum. The lender has an
option to convert up to 100% of the principal amount of the loan outstanding plus interest
compounded into units of ELT. The conversion price is $0.05 during the first year and thereafter
the greater of $0.10 and the market price as defined by TSXV policies. Units are described as one
share and one warrant, with each warrant being exercisable to purchase one share any time during
the 24 month period from the issue date.
The proceeds will be utilized for equipment purchases, jade project development, ongoing
operations and corporate development.
About Costigan Capital Corporation
Costigan Capital Corporation is a private Consulting Corporation headquartered in Vancouver BC.
Management Changes
1450-789 West Pender Steet, Vancouver, B.C. V6C 1H2
Phone: 604-681-1568 Fax: 604-681-8240
E-mail john@electrastone.com
The Company has accepted the resignations of Johan Shearer as a Director of the Company and
from Jody Bellefleur as Chief Financial Officer. Management would like to thank Jo Shearer for his
dedication and service to ELT for more than a decade and Jody Bellefleur for her tireless devotion
during the reorganization and transition of the Corporation.
About Electra Stone Ltd.
Electra Stone Ltd. (the "Company") (formerly Electra Gold Ltd.) is a mining company,
specializing in the development of and exploration for industrial minerals and dimensional stone.
The Company is in the process of mining the Apple Bay mineral properties located on Vancouver
Island near Port Hardy, British Columbia. The mineral claims are located on crown land within
the traditional territory of Quatsino First Nation Band. The Company has also recently entered
into the dimensional stone sector with a current focus on Nephrite Jade exploration in British
Columbia. The Company currently trades on the TSX Venture Exchange under the symbol ELT.
For further information or interests on British Columbia Jade or Electra Stone please contact Tyler
Lowes at tyler@electrastone.com or call 604-681-1568.
On behalf of the Board of Directors
"John Costigan"
President and Director
Forward-Looking Statements:
This press release contains forward-looking information or forward-looking statements
(collectively "forward-looking information") within the meaning of applicable securities laws.
Forward-looking information is typically identified by words such as: "believe", "expect",
"anticipate", "intend", "estimate", "proposed", "postulate" and similar expressions, or are
those, which, by their nature, refer to future events. The Company cautions investors that
any forward-looking information provided by the Company is not a guarantee of future results
or performance, and that actual results may differ materially from those in forward-looking
information as a result of various factors. The reader is referred to the Company's public
filings for a more complete discussion of such risk factors and their potential effects which
may be accessed through the Company's profile on SEDAR at www.sedar.com.
1450-789 West Pender Steet, Vancouver, B.C. V6C 1H2
Phone: 604-681-1568 Fax: 604-681-8240
E-mail john@electrastone.com
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