Encanto Potash Closes $7M Convertible Debenture

By Midnight Trader,  January 14, 2013, 02:36:02 PM EDT

Encanto Potash Corp. (EPO.V) announced the completion of an aggregate $7 million principal amount 5% secured convertible debentures. The principal amount of the debentures are convertible in whole or in part at the option of the subscribers into common shares of the Company at a price of $0.25 per common share until January 14, 2015.

The company intends to use the proceeds to complete the Pre-Feasibility Study on the Muskowekwan First Nation property in January 2013, initiate a Bankable Feasibility Study and provide general working capital.

EPO shares edged up 1.5 cents to $0.29 on volume of more than 888,000.




The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: Investing, Commodities

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