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Strategies & Market Trends : Dino's Bar & Grill -- Ignore unavailable to you. Want to Upgrade?

To: Goose94 who wrote (4845)	7/20/2014 10:28:29 AM
From: Goose94	Read Replies (1) \| Respond to of 203085

Gunpoint Exploration (GUN-V) July 18, '14 announces a non-brokered secured convertible debenture private placement financing in the principal amount of $2.5 million. The private placement is subject to approval by the TSX Venture Exchange. The Debentures have a four year term and bear interest at the rate of 8% per annum. The Debentures will be secured by a security interest granted over American Gold Capital U.S. Inc., a wholly-owned subsidiary of Gunpoint, which holds a 100% interest in the Talapoosa gold-silver project located in Nevada, USA. Each Debenture will be convertible at the holder's option any time prior to maturity into fully paid common shares of Gunpoint at a conversion price of $0.25 per Conversion Share. The Company may redeem all or any portion of the Debentures at any time prior to the maturity date without penalty. Gunpoint will pay a finder's fee in connection with the private placement. Part of the proceeds of the private placement will be used to repay the Company's currently issued and outstanding convertible debentures in the aggregate principal amount of $750,000. Brant Investments Ltd., a company wholly-owned by P. Randy Reifel, holds an Issued Debenture in the principal amount of $700,000 and Dr. E. Max Baker holds an Issued Debenture in the principal amount of $25,000. Mr. Reifel and Dr. Baker are insiders of the Company by virtue of being directors and officers of Gunpoint. The remainder of the proceeds of the private placement will be used to fund exploration on Talapoosa and for general corporate purposes.