Stone Resources Limited - Convertible Loan Agreement
07 Julio 2012 - 4:18AM
PR Newswire (Canada)
VANCOUVER, July 10, 2012 /CNW/ - Stone Resources Limited ("Stone
Resources" or the "Company") advises that a news release was issued
by its subsidiary, Stone Resources Australia Limited ("Stone
Resources Australia"), to the Australia Securities Exchange on July
10, 2012 entitled "CONVERTIBLE LOAN AGREEMENT" announcing that
Stone Resources Australia has entered into a $1.5 million secured
convertible loan agreement with Easy Prestige Limited. A copy
of that news release is attached. The Company advises that at the
current conversion price, if Easy Prestige Limited exercises the
convertible note in full, it is unlikely that it will have the
effect of diluting the Company below a controlling interest in
Stone Resources Australia and therefore it is not expected to
impact the ability of the Company to exercise control over Stone
Resources Australia. On behalf of the Board, Xin Kelei Vice
President About Stone Resources Limited Stone Resources Limited is
a company incorporated in Bermuda and listed on the TSX Venture
Exchange in Canada. The Company is involved with mineral
resources exploration and development. Stone Resources plans
to expand and develop its business using its effective team of
experts in exploration, geology, metallurgy, mine engineering, law
and finance. Cautionary Statement on Forward-Looking Statements The
information in this document contains certain forward-looking
statements with respect to activities of the Company, based on
assumptions about future courses of action, including with respect
to the conversion of the convertible notes and the Company's
business objectives. Although management has a reasonable basis for
the conclusions drawn, risk factors and uncertainties may cause
actual results to differ materially from those currently
anticipated in such statements. These risks and uncertainties
relate to such factors as the conversion price of the convertible
notes and the ability of the Company to proceed with its business
objectives. In view of these uncertainties we caution readers not
to place undue reliance on these forward-looking statements.
Statements made in this document are made as of the date hereof and
the Company disclaims any intention or obligation to update or
revise any statements made herein, except in accordance with
applicable securities laws. 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 Stone Resources
Limited PDF available at:
http://stream1.newswire.ca/media/2012/07/10/20120710_C7366_DOC_EN_16163.pdf
Stone Resources Limited CONTACT: Xin KeleiVice-President and
Corporate Secretary+1 (604) 303-9070
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