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Infrastructure Materials Corp Completes Private Placement; Enters Into Debt Conversion Agreement With Mont Strategies Inc-Form 8-K

Tuesday, 10 Sep 2013 06:01am EDT 

Infrastructure Materials Corp reported in its Form 8-K on August 28, 2013, the Company completed a private placement of 33,333,333 shares of the Company’s common stock at a price of CAD0.015 per share for total consideration of CAD500,000. The Private Placement was exempt from registration under the Securities Act of 1933, as amended, pursuant to an exemption afforded by Regulation S promulgated thereunder. On September 9, 2013, the Company announced that it had entered into a debt conversion agreement with Mont Strategies, Inc., a Canadian corporation that is controlled by a member of the Company’s Board of Directors. Under the terms of the Agreement, the Company will convert approximately $293,000 of indebtedness owed by the Company to Mont Strategies into shares of the Company’s common stock at a conversion price of CAD0.05 per share. The Company anticipates the Agreement to be completed on or before September 23, 2013, subject to regulatory approval and approval by the Company’s Board of Directors. 

Company Quote

21 Nov 2014