Global Hunter Corp. (TSX.V: BOB) has arranged a $2,500,000 loan to advance its Corona de Cobre project in Chile. The proceeds from the loan will be used by the Company to fund project expenses and for general working capital purposes.
The loan will have a two year term and loan principal will be convertible at the option of the lender in whole or in part into units (�Principal Units�) of the Company until eighteen months from the date of the loan advance at the price of $0.06 per Principal Unit. Each Principal Unit will be comprised of one common share and one-half of a non-transferable warrant. Each whole warrant will be exercisable to purchase one additional common share for $0.10 at any time until eighteen months from the date of the loan advance. The loan will bear interest at the rate of 12% per annum, payable on maturity, and accrued and unpaid interest will be convertible at the option of the lender in whole or in part into units (�Interest Units�) of the Company until eighteen months from the date of the loan advance at the price of $0.05 per Interest Unit. Each Interest Unit will be comprised of one common share and one-half of a non-transferable warrant. Each whole warrant will be exercisable to purchase one additional common share for $0.075 at any time until eighteen months from the date of the loan advance.
The lender is at arm�s length from the Company and will not become an insider as a result of any conversion of principal and interest. The loan principal and accrued interest will be secured by a pledge of the shares of the Company�s subsidiary, Global Hunter Chile Ltda., and may be repaid without penalty or bonus on 30 day�s notice. All shares issued on any conversion of loan principal or interest will be subject to a four month hold period from the date of advance of loan proceeds. A finder�s fee equal to 6% of the loan proceeds will be paid in cash as permitted by policies of the TSX Venture Exchange and applicable securities laws. The loan is subject to acceptance by the TSX Venture Exchange.
Global Hunter’s focus is on strategic and base metals, particularly copper and molybdenum. The Company has built an outstanding portfolio of projects in the stable geopolitical geographies of Canada and Chile. Our exploration and development teams are on the ground rapidly advancing the La Corona de Cobre property near La Serena, Chile and the Rabbit South property in British Columbia, Canada. Either one of these projects could carry the company forward on a stand-alone basis, but together they bring the company additional stability, strength and value.
Macatawa Bank Corporation (NASDAQ:MCBC) recently announced the appointment of Craig A. Hankinson as Senior Vice President and Chief Credit Officer. In this position, Hankinson will have oversight for Macatawa�s credit administration and credit approval process, loan policies and procedures, and work to ensure the overall quality of the Bank�s lending portfolio.
Headquartered in Holland, Mich., Macatawa Bank Corporation is the parent company for Macatawa Bank.
The Talbots, Inc. (NYSE:TLB) recently announced that its President and Chief Executive Officer, Trudy F. Sullivan, has adopted a pre-arranged stock trading plan in accordance with guidelines specified under Rule 10b5-1 of the Securities Exchange Act of 1934 and Talbots policies regarding stock transactions.
The Talbots, Inc., together with its subsidiaries, operates as a specialty retailer and direct marketer of women’s apparel, accessories, and shoes in the United States and Canada.
Balchem Corporation (NASDAQ:BCPC) announced recently the addition of Paul D. Coombs and David B. Fischer as directors. These additions coincide with the retirement of Kenneth Mitchell, effectively expanding the Board of Directors to seven.
Balchem Corporation provides specialty performance ingredients and products for the food, nutritional, feed, pharmaceutical, and medical sterilization industries in the United States and internationally.
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