Global Hunter Corp. (TSX.V:BOB) (FSE:G5D) has arranged a $2,500,000 loan to advance its Corona de Cobre project in Chile. The proceeds from the loan will be used by the Company to fund project expenses and for general working capital purposes.
The loan will have a two year term and loan principal will be convertible at the option of the lender in whole or in part into units (�Principal Units�) of the Company until eighteen months from the date of the loan advance at the price of $0.06 per Principal Unit. Each Principal Unit will be comprised of one common share and one-half of a non-transferable warrant. Each whole warrant will be exercisable to purchase one additional common share for $0.10 at any time until eighteen months from the date of the loan advance. The loan will bear interest at the rate of 12% per annum, payable on maturity, and accrued and unpaid interest will be convertible at the option of the lender in whole or in part into units (�Interest Units�) of the Company until eighteen months from the date of the loan advance at the price of $0.05 per Interest Unit. Each Interest Unit will be comprised of one common share and one-half of a non-transferable warrant. Each whole warrant will be exercisable to purchase one additional common share for $0.075 at any time until eighteen months from the date of the loan advance.
The lender is at arm�s length from the Company and will not become an insider as a result of any conversion of principal and interest. The loan principal and accrued interest will be secured by a pledge of the shares of the Company�s subsidiary, Global Hunter Chile Ltda., and may be repaid without penalty or bonus on 30 day�s notice. All shares issued on any conversion of loan principal or interest will be subject to a four month hold period from the date of advance of loan proceeds. A finder�s fee equal to 6% of the loan proceeds will be paid in cash as permitted by policies of the TSX Venture Exchange and applicable securities laws. The loan is subject to acceptance by the TSX Venture Exchange.
Orofino Gold Corp. (ORFG.PK) is a US (Nevada) company established for the purpose of creating a significant exploration and mining group operating in Colombia.
The major criteria for selection of properties will include:
Significant historical production
Favorable geology for hosting major ore bodies
Significant property area for large target exploration
Recent results available
Favorable infrastructure and access to allow mine development
Receptive local government and populace.
In addition Orofino has acquired a database comprised of exploration and mining results from previous operators who left when the global mining sector experienced a major downturn in the 1997-2000 time frame.
All properties meet the above criteria outlined above.
The second part of the Company’s strategy to become a recognized player in the Colombia mining sector was the acquisition of an interest in an operating mine. The Company has acquired a 55% interest in the La Azul/La Estrella property with the rights to acquire up to 80%.
Target (NYSE:TGT) recently became the first mass-discount retailer to make the shopkick mobile application available to its guests. Users of the app will receive points and other rewards, like instant mobile coupons, just for entering Target.
Target Corporation operates general merchandise and food discount stores in the United States.
Bancorp Rhode Island, Inc. (NASDAQ:BARI), the parent company of Bank Rhode Island, recently reported record net income of $2.8 million for the quarter ended September 30, 2010, a 27.5 percent increase over the third quarter 2009 net income of $2.2 million and a 4.7 percent increase over net income of $2.7 million in the second quarter 2010.
Bancorp Rhode Island, Inc. is the parent company of Bank Rhode Island, a full-service, FDIC-insured, state-chartered financial institution.
EasyLink Services International Corporation (NASDAQ:ESIC), a global provider of comprehensive messaging services and e-commerce solutions, recenlty announced it has expanded its Desktop Messaging local number coverage through its ongoing expansion efforts and its acquisition of Xpedite Systems, LLC.
EasyLink Services International Corporation provides value added services that facilitate the electronic exchange of documents and information between enterprises, their trading communities, and their customers.
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