CALGARY, Alberta, April 27, 2018 (GLOBE NEWSWIRE) -- Jura Energy Corporation (TSX Venture:JEC) (“Jura” or the “Company”) announced today that it proposes to enter into agreements for the issue of 3,000 units pursuant to a private placement (the “Offering”). Each unit (a “Unit”) is comprised of US$1,000 principal amount of 11% secured subordinated debentures (“Debentures”) and 200 warrants (each a “Warrant”) to purchase one common share in the share capital of Jura (a “Common Share”) for $0.15 per Common Share. The Warrants are subject to customary anti-dilution adjustments, including adjustments upon the payment of a dividend in Common Shares, subdivision or combination of the Common Shares, or the issuance of rights, options or warrants to all or substantially all holders of the outstanding Common Shares. Each Warrant issuable to subscribers under the Offering will expire on the earlier of: (a) April 30, 2020; (b) the 90th day following the redemption by Jura of all remaining outstanding Debentures issued to the holder of such Warrants; and (c) the tenth business day following the date on which notice is given by Jura to the subscriber of the Warrants that, during a consecutive 30-day period ending not more than five business days prior to the date of such notice, the closing price of the Common Shares on the TSX Venture Exchange (“TSXV”) exceeded $0.30 on each trading day.
Jura Announces US$3 million Debenture Placement and Short-Term Loan Agreement
Apr 28, 2018
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