MONTREAL, QUEBEC — (Marketwire) — 03/01/13 — Quinto Real Capital Corporation (the „Corporation“ or „Quinto“) (TSX VENTURE: QIT) announces the closing of the $500,000 secured debentures announced on February 26, 2013.
The debentures issued have a term of 24 months, bearing an interest rate of 9.75% per annum and payable quarterly.
The debentures may be converted at a price of $0.40 per common share: (i) in the occurrence of an event of default; or (ii) in the event Quinto-s common shares trade for ten consecutive business days at an average daily trading price of $0.80 for the first 12 month period and $1.20 for the second 12 month period. A maximum number of 1,250,000 common shares are reserved with the TSX Venture Exchange in order to guaranty the holder-s conversion right. The debentures and the underlying common shares are subject to a mandatory holding period of four months and one day.
The funds will be used to provide Quinto with an adequate working capital and to further its short term interest toward the Monster Lake gold project.
About Quinto Real Capital Corporation
Quinto Real Capital Corporation is a Canadian-based mining exploration company focused on the exploration, evaluation and development of gold mining properties with a view to commercial production. Quinto holds two options to acquire up to a 70% interest in the Monster Lake gold property, located in the Chibougamau mining camp, in Quebec.
The Corporation-s public documents may be consulted on .
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 news release. Statements made in this news release that are not historical facts are „forward-looking statements“ and readers are cautioned that any such statements are not guarantees of future performance, and that actual developments or results, may vary materially from those in these „forward-looking“ statement.
Contacts: Michael Curtis President and Chief Executive Officer 514 793-1915
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