14
Nov
20:43
Cyclone Metals leverages notes to fund Quebec project
Cyclone Metals has received a cash investment totalling $1.32 million, through the issuance of secured notes that were brokered by CPS Capital Group, to fund its flagship Block 103 iron ore project in Quebec.
Kallanish understands that these secured notes leverage securities held by Cyclone Metals in European Lithium Limited (EUR). The 1.34 million secured notes each carry a face value of $1.25, which are repayable in EUR shares offered at a 5% discount…
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