DENVER, March 8, 2019 /CNW/ - Resource Capital Fund VI L.P. ("RCF") reports that on March 7, 2019, RCF agreed to convert all outstanding amounts under its existing US$16 millionconvertible loan facility with Talon Metals Corp. ("Talon") (the "Convertible Loan"), as well as its outstanding US$1 million unsecured promissory note (the "Promissory Note"), to common shares ("Common Shares") of Talon pursuant to the terms of certain amendments to the loan agreement and promissory note.
RCF converted all outstanding amounts under the Convertible Loan at the conversion price of C$0.156 per Common Share, and RCF was issued 196,776,515 Common Shares (which assumed an exchange rate of C$1.3350 = US$1 and accrued interest to March 6, 2019).
The outstanding US$1 million Promissory Note has been repaid through the delivery of Common Shares at the conversion price of C$0.0826. RCF was issued 18,043,542 Common Shares (which assumed an exchange rate of C$1.3350 = US$1 and accrued interest to March 6, 2019).
As a result of the conversions of the outstanding amounts of the Convertible Loan and the Promissory Note, RCF was issued a total of 214,820,057 Common Shares.
Prior to the conversions and the issuance of the Common Shares, RCF owned 12,376,097 Common Shares, representing approximately 9.5% of the then issued and outstanding Common Shares. After the conversions, RCF now owns 227,196,154 Common Shares, representing approximately 55.6% of the issued and outstanding Common Shares.
https://www.benzinga.com/pressreleases/19/03/r13329583/resource-capital-fund-vi-l-p-announces-conversion-of-outstanding-debt-
