The convertible debentures will have a 4-year term, carry a 9% coupon, a 3% establishment fee and will be convertible into Challenger common shares at a price of
Challenger is a gold exploration and development company that owns the Hualilan gold project located in
Challenger also owns the El Guayabo gold-copper project in
The proceeds from the convertible debenture investment and the private placement are expected to be used to fund exploration and development activities at the Hualalin and El Guayabo projects.
Completion of the investment is subject to receipt of all required regulatory approvals and is expected to occur in the next few days.
About Queen's
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Contact:
Email: info@queensrdcapital.com
Phone: +852 2759 2022
Caution Regarding Forward Looking Statements
Certain statements in this News Release, which are not historical in nature, constitute 'forward looking statements' within the meaning of that phrase under applicable Canadian securities law. These statements include, but are not limited to, statements or information concerning the Company's growth strategy and the Company's future performance. These statements reflect management's current assumptions and expectations and by their nature are subject to certain underlying assumptions, known and unknown risks and uncertainties and other factors which may cause actual results, performance or events to be materially different from those expressed or implied by such forward looking statements. Those risks include the interpretation of drill results; the geology, grade and continuity of mineral deposits; the possibility that future exploration, development or mining results will not be consistent with our expectations; commodity and currency price fluctuation; failure to obtain adequate financing; regulatory, recovery rates, refinery costs, inability to identify or successfully conclude corporate transactions, and other relevant conversion factors, permitting and licensing risks; and general market and mining exploration risks. Forward-looking statements should not be construed as investment advice. Readers should perform a detailed, independent investigation and analysis of the Company and are encouraged to seek independent professional advice before making any investment decision. Accordingly, readers should not place undue reliance on any forward-looking statement. Except as required by applicable securities laws, the Company disclaims any obligation to update or revise any forward-looking statements to reflect events or changes in circumstances that occur after the date hereof.
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