Global Hunter-Convertible Loan Extended
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 01/21/13 -- Global
Hunter Corp. (the "Company") (TSX VENTURE:BOB) reports that the TSX
Venture Exchange (the "TSXV") has accepted for filing amendments to
the convertible loan agreement described in the Company's news
release of January 10, 2013.
The loan agreement, as amended, now provides that:
1. The lender has the right to require payment of up to one-half of
the $2,500,000 loan (the "Loan") plus accrued interest on January 31,
2. The lender has the right to require payment of the balance of the
Loan and accrued interest on October 1, 2013, but also has the right
to further extend the time for payment.
3. Loan principal will be convertible into Units (one common share
and one-half warrant) at the price of $0.10 per Unit until October 1,
4. The Company will continue to have the right to repay the Loan and
accrued interest at any time on thirty day's notice.
As consideration for the extension of the time for payment and the
increase of the conversion price from $0.06 to $0.10 per share, the
Company has issued to the lender warrants (the "Detachable Warrants")
exercisable to purchase up to 12,500,000 shares for $0.10 each until
October 1, 2015; provided that one Detachable Warrant will be
cancelled for each $0.20 by which the Loan Principal is reduced by
way of repayment by the Corporation. Any shares issued on exercise of
Detachable Warrants will be subject to a hold period until May 18,
2013. Any shares issued on conversion of the Loan, and any shares
issued on exercise of the warrants comprised in the Units, will not
be subject to a hold period.
As noted in the Company's January 10, 2013 news release, the lender
has given notice to the Company requiring payment of one-half of the
Loan plus accrued interest on January 31, 2013. The Company intends
to seek equity financing to satisfy that obligation and to further
advance its La Corona de Cobre copper project after completion of the
proposed consolidation of its share capital, also described in the
Company's January 10, 2013 news release. Completion of the share
consolidation remains subject to acceptance by the TSX Venture
On behalf of the Board of Directors,
Rudy Brauer, Director, Global Hunter Corp.
This news release may contain forward-looking statements including
but not limited to comments regarding the timing and content of
upcoming work programs, geological interpretations, receipt of
property titles, potential mineral recovery processes, etc.
Forward-looking statements address future events and conditions, and
therefore involve inherent risks and uncertainties. Actual results
may differ materially from those currently anticipated in such
statements. The reader is cautioned not to place undue reliance on
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.
Global Hunter Corp.
(604) 681-4653 or 1-866-282-8398
(604) 683-6557 (FAX)
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