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Canadian Spirit Resources Converts Debenture

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February 27, 2014

A previously announced CA$3 million convertible debenture, issued to Elmag Investments Inc. on Dec. 20, 2013 by Canadian Spirit Resources Inc. (TSXV: SPI), was converted into 10 million units of the corporation, Canadian Spirit said Feb. 26.

The units were comprised of 10 million common shares and a warrant to purchase 5 million common shares, exercisable at 30 cents each and expiring Dec. 20, 2014, the company said.

As a result of the share issuance, Elmag Investments owns more than 28 million—25.9%--of the 110,124,691 outstanding shares, Canadian Spirit said.

The ...

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