Argentex Mining Issues 474,171 Common Shares on Partial Conversion of US$2.3M Convertible Debenture
2014年1月16日 - 2:47AM
Marketwired
Argentex Mining Issues 474,171 Common Shares on Partial Conversion
of US$2.3M Convertible Debenture
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Jan 15, 2014) -
Argentex Mining Corporation ("Argentex" or the "Company")
(TSX-VENTURE:ATX)(OTCQB:AGXMF) is pleased to announce the
conversion of an additional US$130,000 of the outstanding principal
amount of the Convertible Debenture held by Austral Gold Argentina
S.A. In the partial conversion, which was effected on January 15,
2014 at a conversion price of US$0.274163 per Unit, Argentex issued
474,171 Units, consisting of 474,171 common shares and 237,085
warrants. Each whole warrant entitles the holder to purchase one
additional common share at an exercise price of CDN$0.40 until July
2, 2018.
Details about the Convertible Debenture and the private
placement in which it was issued were previously disclosed in a
press release dated July 3, 2013.
After adjusting for this partial conversion, the principal
balance remaining under the Convertible Debenture is US$260,000 and
repayments of US$130,000 are anticipated in February and March of
2014. Under the terms of the Convertible Debenture, this amount can
be repaid only by conversion into additional Units at the
conversion price of US$0.274163 per Unit. These conversions
coincide with repayments to Argentex of principal amounts
outstanding under a U.S. dollar linked loan intended to minimise
currency risk. Loan repayments are made in Argentine pesos in
amounts linked to the value of the U.S. dollar at the time of
repayment.
None of the securities issued upon the partial conversion have
been or will be registered under the United States Securities Act
of 1933, as amended (the "Act"), and none of them may be offered or
sold in the United States absent registration or an applicable
exemption from the registration requirements of the Act. These
securities are "restricted securities" under the Act and are
subject to a hold period in the United States of at least six
months from the date issued. Subject to certain exceptions, there
are additional restrictions on transfer of these securities
described in an Investment Agreement between Argentex and Austral
Gold Limited. The Investment Agreement, together with all of the
other material agreements related to the July 2, 2013 financing,
are available on SEDAR at www.sedar.com.
About Argentex
Argentex Mining Corporation is an exploration company focused on
developing its advanced Pinguino silver-gold project located in
Santa Cruz, Patagonia, Argentina. In total, Argentex owns 100% of
100,000+ hectares of highly prospective land located in the Santa
Cruz and Rio Negro provinces. Shares of Argentex common stock trade
under the symbol ATX on the TSX Venture Exchange and under the
symbol AGXMF on the OTCQB.
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
On behalf of Argentex Mining Corporation:
Michael Brown, President and CEO
Statements in this news release that are not historical
facts are forward-looking statements that are subject to risks and
uncertainties. Words such as "expects", "intends", "plans", "may",
"could", "should", "anticipates", "likely", "believes" and words of
similar import also identify forward-looking statements.
Forward-looking statements in this news release include the
statement after adjusting for this partial conversion, the
principal balance remaining under the Convertible Debenture is
US$260,000 and repayments of US$130,000 are anticipated in February
and March of 2014. Actual results may differ materially from those
currently anticipated due to a number of factors beyond the
Company's control. These risks and uncertainties include, among
other things, management's assumptions about the availability of
the necessary consultants and capital and the risks inherent in
Argentex's operations, including the risks that the Company may not
find any minerals in commercially feasible quantity or raise enough
money to fund its exploration plans. These and other risks are
described in the Company's Annual Information Form and other public
disclosure documents filed on the SEDAR website maintained by the
Canadian Securities Administrators and the EDGAR website maintained
by the Securities and Exchange Commission.
Argentex Mining CorporationPeter A. BallEVP Corporate
Development604-568-2496 (ext. 103) or 1-888-227-5285 (ext.
103)604-568-1540peter@argentexmining.comwww.argentexmining.com
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