Golden Band Resources announced that to finance the start of gold production on its La Ronge Gold Project, it is selling a gold-linked convertible debenture as a private placement. The company is seeking to raise gross proceeds of a minimum of $15 million up to a maximum of $30 million, with repayment of the interest-bearing debenture over a three-year period with cash, physical gold, or shares in the company. Blackmont Capital Inc. will act on a commercially reasonable efforts basis as the lead agent. A minimum of 15,000 Units up to a maximum of 30,000 Units will be offered as a private placement at a price of $1,000 per Unit. Each Unit is comprised of a convertible secured gold linked debenture with a face value of $1,000 and 400 detachable warrants.
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