Ceylon Graphite Corp., a mining company listed on the TSX Venture Exchange, announced its intention to issue 548,999 common shares to satisfy interest payments on its secured convertible debenture units. The company had previously issued debentures with an interest rate of 9%, and the total interest payable amounted to $16,470.00.
In accordance with the terms of the debentures and the policies of the TSX Venture Exchange, the interest shares will be priced at $0.03 per share. The shares will be subject to a four-month hold period as per the exchange’s regulations. However, the issuance of the interest shares is contingent on the acceptance of the TSX Venture Exchange.
Ceylon Graphite Corp. focuses on mining graphite in Sri Lanka, known for its high-grade graphite suitable for various applications, including electric vehicles, battery storage, construction, healthcare, and paints and coatings sectors. The company also specializes in developing and commercializing graphene and graphite products.
The forward-looking statements in the press release outline the management’s expectations regarding the issuance of interest shares, the potential value of products produced with Ceylon graphite, and the company’s role as a market leader. Investors are cautioned about the risks and uncertainties associated with these projections, including inaccurate testing results, market fluctuations, regulatory challenges, and economic downturns.
For more information about Ceylon Graphite Corp. and its operations, visit their website at www.ceylongraphite.com or contact the corporate communications team at +1 (604) 924-8695.
