China Gold Pte Ltd.

December 18, 2013 18:11 ET

China Gold Pte Ltd. Subscribes for Convertible Debentures of Asia Now Resources Corp.

TORONTO, ONTARIO--(Marketwired - Dec. 18, 2013) - China Gold Pte Ltd. ("China Gold") today announced that it has subscribed for $1,248,000 in aggregate principal amount of unsecured convertible debentures (the "Debentures") of Asia Now Resources Corp. ("ANR") by way of a private placement (the "Subscription"). The Debentures are convertible into common shares of ANR ("Shares") at a rate of $0.05 per Share if converted during the first year following their issuance or $0.10 per Share during the second year following their issuance. The cash consideration paid under the Subscription was $1,248,000 at a price of $1,000 per Debenture.

China Gold currently holds 55,429,908 Shares representing approximately 49.9% of ANR's issued and outstanding Shares. In the event that all of China Gold's Debentures are converted to Shares in the first year, and assuming no options are exercised, China Gold would hold 80,389,908 Shares representing approximately 59.1% of ANR's issued and outstanding Shares. China Gold completed the Subscription for investment purposes only and may acquire further Debentures or Shares, or dispose of its holdings of Debentures or Shares, as investment conditions warrant.

Contact Information

  • Lee Kwok Fai
    19 Keppel Road, #03-05
    Jit Poh Building
    Singapore, 089058