Home / Mining Company News Releases (Unreviewed) / Robex Resources Inc.: Proposed Amendments to Convertible Debentures Issued on November 21st 2013

Robex Resources Inc.: Proposed Amendments to Convertible Debentures Issued on November 21st 2013

QUEBEC CITY, QUEBEC–(Marketwired – Nov. 3, 2015) – Robex Resources Inc. (“Robex” and / or “the Company”) (TSX VENTURE:RBX)(FRANKFURT:RB4) announces that it proposes to amend the terms of the convertible debentures issued on November 21, 2013 to 15 subscribers and maturing on November 21, 2016.

The proposed amendments aim to (i) extend the debentures’ maturity date by two years, until November 21, 2018; (ii) allow the Company, at any time before the maturity date of the debentures and without consent of the subscribers, to repay both the capital and interest then due on the debentures, without penalty, by simple notice given to the subscribers which shall have the option to request repayment of capital through the issuance of common shares of the Company at a price of $ 0.15 per share, as stipulated in the original debentures, or in cash and; (iii) allow the Company to defer the payment of interests until the amended maturity date, subject to annual interest of 10%, compounded annually.

The amendment of the convertible debentures is subject to obtaining applicable regulatory authorizations, including the approval of the TSX Venture Exchange. Moreover, the amendment of the debentures’ maturity date requires the consent of each subscriber, without which the Company shall not be able to amend some of the debentures.

This press release contains statements that may constitute “forward-looking information” or “forward-looking statements” as set out within the context of security law. This forward-looking information is subject to many risks and uncertainties, some of which are beyond Robex’s control. The actual results or conclusions may differ considerably from those that have been set out, or intimated, in this forward-looking information. There are many factors which may cause such disparity, especially the instability of metal market prices, the results of fluctuations in foreign currency exchange rates or in interest rates, poorly estimated reserves, environmental risks (stricter regulations), unforeseen geological situations, unfavourable extraction conditions, political risks brought on by mining in developing countries, regulatory and governmental policy changes (laws and policies), failure to obtain the requisite permits and approvals from government bodies, or any other risk relating to mining and development. There is no guarantee that the circumstances anticipated in this forward-looking information will occur, or if they do occur, how they will benefit Robex. The forward-looking information is based on the estimates and opinions of Robex’s management at the time of the publication of the information and Robex does not assume any obligation to make public updates or modifications to any of the forward-looking statements, whether as a result of new information, future events, or any other cause, except if it is required by securities laws.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Augustin Rousselet, CFO
Office: (581) 741-7421
[email protected]

 

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