LAVAL, QUEBEC--(Marketwired - Dec. 12, 2016) - Mason Graphite Inc. (TSX VENTURE:LLG) (OTCQX:MGPHF)
The Company announces that it intends to issue an aggregate of 90,217 common shares of the Company (the "Common Shares") at a deemed price per share of $1.38 in payment of $124,500 in interest due and payable under the Company's 12% convertible debentures (the "Debentures"), which are held by Sodémex Développement, a subsidiary of the Caisse de dépôt et placement du Québec, Fonds de solidarité FTQ and the Fonds régional de solidarité FTQ Côte-Nord. The Debentures are due June 11, 2019. Under the terms of the Debentures, the Company has the option to pay 50% of the semi-annual interest due on the Debentures in Common Shares. The balance of the interest owing under the Debentures, being $124,500, has been paid in cash. The issuance of the Common Shares in payment of interest on the Debentures is subject to the approval of the TSX Venture Exchange and the Common Shares will be subject to a four month hold period.
ABOUT MASON GRAPHITE
Mason Graphite is a Canadian mining company focused on the exploration and development of its 100% owned Lac Guéret natural graphite deposit located in northeastern Québec. The Company is led by a highly experienced team that has over five decades of experience in graphite production, sales, and research and development.
For more information, visit www.masongraphite.com.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.