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Global Uranium Corp. Closes C$750K Convertible Debenture Deal
The small-cap uranium explorer raised the funds through a 10% convertible debenture with a 24-month term, earmarking proceeds for project advancement in the Athabasca Basin and Wyoming.
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Global Uranium Corp. (CSE: GURN, OTC: GURFF, FRA: Q3J) closed a non-brokered private placement of unsecured convertible debentures, raising C$750,000. The company announced the close Thursday.
The debentures carry 10% annual interest and mature in 24 months. Holders can convert the principal into units at a price equal to the 5-day volume-weighted average trading price at conversion, subject to CSE rules and a floor of C$0.05 per unit. Each unit consists of one common share and one warrant exercisable at C$0.065 per share for 24 months.