Taurus Gold Announces Convertible Debenture Financing

Executive Summary

• Taurus Gold Corp. announced a non‑brokered private placement to raise up to $3,000,000 in gross proceeds through unsecured convertible debentures.
• The debentures bear 10% annual interest, mature one year from issuance, and are convertible into units (1 common share + 1 warrant) at a $0.10 conversion price.
• Proceeds will be used for technology development, general working capital, and marketing/investor‑relations activities; a finder’s fee of 8% cash plus 12.5% of placed units in shares may be paid to qualified parties.

Key Details

• Offering Size: Up to $3,000,000 gross proceeds.
• Security Type: Unsecured convertible debentures (each “Debenture”).
• Interest Rate: 10% per annum, payable in advance.
• Maturity: One year from the date of issuance; optional pre‑payment without penalty.
• Conversion Mechanics:
• Conversion price = $0.10 per Unit (1 common share + 1 warrant).
• Each warrant exercisable at $0.10 per Common Share for 36 months from issuance.
• Holders may convert principal plus accrued interest into Units at any time before the Maturity Date.
• Finder’s Fee:
• Cash fee equal to 8% of gross proceeds raised.
• Additional equity compensation equal to 12.5% of the number of Units placed by the finder (issued as common shares).
• Use of Proceeds: Technology development, general working capital, and, where feasible, enhanced marketing and investor‑relations activities.
• Statutory Hold Period: Securities subject to a four‑month‑plus‑one‑day hold period under Canadian securities law.
• Regulatory Conditions: Offering pending CSE approval and required filings; anticipated closing in one or more tranches after approvals are obtained.
• U.S. Securities Disclaimer: Securities not registered under the U.S. Securities Act; cannot be offered/sold in the United States absent registration or exemption.

Notable Quotes

(No executive quotes were provided in the release.)