Vancouver - Burnstone Ventures Inc. ("Burnstone" or the "Company") announces the signing of a loan agreement (the "Agreement" or the "Loan") with an arm's length lender of the Company (the "Lender") to secure funds of C$50,000. Proceeds from the financing will be used by Burnstone for continued exploration at its Tomichi Copper and Molybdenum properties and for general working capital purposes.
The Loan will mature on July 15, 2014 and carry interest at a rate of ten percent (10%) per annum. In consideration of the risk taken by the Lender, a bonus of shares will be granted equal to 20% of the principal amount of the Loan. Burnstone has the option to repay all or any part of the principal of the Loan, together with accrued and unpaid interest, prior to the maturity date without notice or penalty.
Any shares issued under the terms of the agreements described above are subject to approval of the TSX Venture Exchange and pricing and resale restrictions as set out under applicable securities laws and policies of the TSX Venture Exchange.
The Company has decided not to move forward with the Convertible Debenture previously announced on July 5, 2013.
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Vancouver - Burnstone Ventures Inc. ("Burnstone" or the "Company") announces the signing of a loan agreement (the "Agreement" or the "Loan") with an arm's length lender of the Company (the "Lender") to secure funds of C$50,000. Proceeds from the financing will be used by Burnstone for continued exploration at its Tomichi Copper and Molybdenum properties and for general working capital purposes.
