Global Hunter Corp. (TSX.V: BOB) (FSE:G5D) recently arranged a $2,500,000 loan to advance its Corona de Cobre project in Chile. The proceeds from the loan will be used by the Company to fund project expenses and for general working capital purposes.
The loan will have a two year term and loan principal will be convertible at the option of the lender in whole or in part into units of the Company until eighteen months from the date of the loan advance at the price of $0.06 per Principal Unit. Each Principal Unit will be comprised of one common share and one-half of a non-transferable warrant. Each whole warrant will be exercisable to purchase one additional common share for $0.10 at any time until eighteen months from the date of the loan advance. The loan will bear interest at the rate of 12% per annum, payable on maturity, and accrued and unpaid interest will be convertible at the option of the lender in whole or in part into units of the Company until eighteen months from the date of the loan advance at the price of $0.05 per Interest Unit. Each Interest Unit will be comprised of one common share and one-half of a non-transferable warrant. Each whole warrant will be exercisable to purchase one additional common share for $0.075 at any time until eighteen months from the date of the loan advance.
The lender is at arm’s length from the Company and will not become an insider as a result of any conversion of principal and interest. The loan principal and accrued interest will be secured by a pledge of the shares of the Company’s subsidiary, Global Hunter Chile Ltda., and may be repaid without penalty or bonus on 30 day’s notice. All shares issued on any conversion of loan principal or interest will be subject to a four month hold period from the date of advance of loan proceeds. A finder’s fee equal to 6% of the loan proceeds will be paid in cash as permitted by policies of the TSX Venture Exchange and applicable securities laws. The loan is subject to acceptance by the TSX Venture Exchange.
Ocean Power Technologies, Inc (Nasdaq:OPTT) recently announced that it has expanded its relationship with Mitsui Engineering & Shipbuilding Co. Ltd. with the signing of a new contract to develop OPT’s PowerBuoy technology for its application in Japanese sea conditions. Under this new contract, the two companies will work together to develop a new mooring system for OPT’s PowerBuoy®, customized for wave power stations off the coast of Japan.
Ocean Power Technologies, Inc. engages in the development and commercialization of proprietary systems that generate electricity by harnessing the renewable energy of ocean waves primarily in North America, Europe, and Australia.
Eltek Ltd. (Nasdaq:ELTK) the leading Israeli manufacturer of advanced flex-rigid circuitry solutions, recently announced its financial results for the quarter ended September 30, 2010. Revenues for the quarter ended September 30, 2010 were $9.0 million, the same as the revenues for the second quarter of 2010 and a decrease of 6% from the $9.6 million revenues reported in the third quarter of 2009.
Eltek Ltd., together with its subsidiaries, develops, manufactures, markets, and sells printed circuit boards, including high density interconnect multi-layered and flex-rigid boards primarily in Israel, Europe, and North America.
Real Goods Solar, Inc (Nasdaq:RSOL) a leading residential solar energy integrator, recently announced results for its third quarter ended September 30, 2010. Net revenue for the third quarter of 2010 increased 7.2% to $24.6 million from $23.0 million recorded in the same period last year.
Real Goods Solar, Inc. operates as a residential and commercial solar energy integrator in California and Colorado. The company offers various turnkey services, including design, procurement, permitting, build-out, grid connection, financing referrals, and warranty.
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