Quattro Exploration and Production Ltd. (TSXV: QXP.V) closed 500 convertible debentures for CA $500,000 on Dec. 31, the company said Jan. 3.
Each debenture was worth CA $1,000. Each had an annual rate of 8% for three years with a conversion price of 50 cents into one common share, the company added.
The debentures were issued within the company, which has more than 34 million shares outstanding, Quattro said.
Completion of the offering is subject to the final approval of the TSX Venture Exchange, Quattro added.
Proceeds from the financing ...