"Cauldron Energy Limited (ASX: CXU) (CXU) is pleased to announce it has received convertible note funding totaling $2 million from Dempsey Resources Pty Ltd (Dempsey), a wholly owned subsidiary of Cape Lambert Resources Ltd (ASX: CFE (Convertible Note).
Pursuant to the terms of the Convertible Note, Dempsey has the right to convert the convertible note into ordinary shares in CXU before the repayment date of 16 March 2012, subject to the receipt of all necessary shareholder approvals. The Convertible Note has a coupon rate of 10%."
CXU Price at posting:
18.5¢ Sentiment: Hold Disclosure: Held
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