London, ON (pcJ News Briefs) – Tribute Resources Inc. (TSX-V:TRB) has completed previously announced private placement of 10% unsecured subordinated convertible debentures due March 31, 2019 for an aggregate principal amount of $900,000.
Each debenture or any portion of the principal amount plus accrued interest, which is an integral multiple of $1,000.00, is convertible into fully paid and non-assessable common shares of Tribute at a conversion price of $0.05 per share at any time prior to the close of business on July 31, 2017.
Proceeds will be used for working capital, general corporate purposes and transaction expenses.
Tribute Resources Inc has several renewable energy projects in addition to some dormant gas storage projects in the development phase.
photo credit: Tribute Resources