INTERRA COPPER CORP. Interra Copper Corp. announced intention to enter into a revolving credit facility with a ("Lender") of up to CAD 400,000. The terms of the facility are as follows: Amount: CAD 400,000; Interest: 9% annually; Term: 2 years; Security: Unsecured; Termination: Two years, or earlier in the event of a material adverse financial change of the Company; Conversion: At any time, the Lender may notify the Company that any outstanding debt, plus accrued interest, should be converted into equity on a 5-day volume weighted average market price of the Shares.
No part of any loan drawn from the facility is callable by the Lender for cash. The Company has the right to pay any amount drawn from the facility, plus accrued interest, in cash without a notice period.
