VANCOUVER, Jan. 6, 2017 /CNW/ - Heatherdale Resources Ltd. ("Heatherdale" or the "Company") (TSXV: HTR) announces that the Company will be issuing common shares to redeem its convertible debenture with Sino Canada Natural Resources Fund I (the "Debenture").
Pursuant to the amended agreement announced in the Company's December 24, 2014 news release, the Debenture is redeemable in cash or shares at a price of C$0.20 per share for an amount equal to the principal amount of the Debenture plus accrued unpaid interest up to the maturity date. The Company has elected to satisfy its obligation to pay all of the redemption price by issuing 15,200,000 shares, including 15,000,000 shares for the principal portion of C$3,000,000 and 200,000 shares for the outstanding interest up to the Maturity Date of December 31, 2016.
Heatherdale Resources Ltd. is focused on advancing its mine development opportunity at the Niblack Project in southeastern Alaska.
On behalf of the Board of Directors
Neither the 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.
SOURCE Heatherdale Resources Limited
For further information: on Heatherdale, visit the Company's website at www.heatherdaleresources.com or contact Investor Services at (604) 684-6365 or within North America at 1-800-667-2114.