On October 11, 2019, Northern Vertex Mining Corp. (“Northern Vertex”) announced that it had completed a consolidation and extension of outstanding convertible debt owing to Greenstone Resources II L.P. (“Greenstone”) by the issuance of a convertible debenture (the “Debenture”) in the principal amount of US$8.5 million due on December 1, 2020. The Debenture bears interest at a rate of 12% per annum and is payable quarterly in cash. The Debenture is convertible by Greenstone into common shares of Northern Vertex at a conversion price of C$0.30 per share at any time prior to the maturity date.
Northern Vertex is mineral exploration company that is engaged in the identification, acquisition, exploration and development of gold, silver and other precious metals deposits located in the North America and elsewhere. Northern Vertex is primarily focused on its 100%-owned Moss Mine located in northwest Arizona.
Further details regarding the refinancing and Northern Vertex can be found on Northern Vertex’s website. Northern Vertex trades under the symbol “NEE” on the TSX Venture Exchange.