Replies to post #514950 on Zeev's Turnips Patch-No Politics (ZEEV)

[madrose1]

Birch Mountain prices offering of convertible debentures (2.42 +0.09) -Update : Co announces it signed an underwriting agreement today with a syndicate of underwriters, for a public offering of $30 mln of convertible unsecured subordinated debentures. The co has granted the Underwriters an option to purchase up to an additional 15% of the principal amount of Debentures, exercisable in whole or in part at any time prior to close f business on Dec 27, 2006. The debentures will be convertible into common shares at a conversion price of $3.30 per common share. The debentures will be convertible at any time at the option of the holders into common shares. (Note: stock still halted)

[was hotlinktuna]

All I could find was this: Birch Mountain to issue $30-million of debentures


2006-11-20 16:25 ET - News Release

Mr. Douglas Rowe reports

BIRCH MOUNTAIN ANNOUNCES OFFERING OF CONVERTIBLE DEBENTURES

Birch Mountain Resources Ltd. has filed a preliminary short form prospectus with the securities commissions in the provinces of British Columbia, Alberta, Saskatchewan, Manitoba and Ontario in connection with a treasury offering of convertible unsecured subordinated debentures to raise gross proceeds of approximately $30-million. The offering is being led by RBC Capital Markets and will include a syndicate of underwriters. Birch Mountain will grant the underwriters an option to purchase up to an additional 15 per cent of the principal amount of debentures, exercisable in whole or in part at any time prior to close of business on Dec. 27, 2006. Birch Mountain expects the pricing of the offering to occur on or about Nov. 21, 2006, and closing to occur on or about Dec. 5, 2006.

The net proceeds from the offering will be used to finance the application for, and construction of, the South Haul Road, capital equipment costs for the MVQ and Hammerstone, Hammerstone project preproduction capital costs, repayment of an existing bank loan, and for working capital and land management and maintenance purposes.
But this is from last night?? Sorry...tuna

[was hotlinktuna]

Smoke...I dumped BMD here for a few cents loss...tuna