Corporation Financiere BENCAP Arranges $5,000,000 Debenture for Indusmin.Business Editors KIEV, Ukraine--(BUSINESS WIRE)--Aug. 7, 2002 Indusmin Energy Corporation ("Indusmin") (CDNX CDNX See Canadian Venture Exchange (CDNX). :IDM (1) See identity management. (2) (Integrated Device Manufacturer) A company that performs every step of the chip-making process, including design, manufacture, test and packaging. Examples of IDMs are Intel, AMD, Motorola, IBM, TI and Lucent. )(OTCBB OTCBB See OTC Bulletin Board (OTCBB). :IDMNF) is pleased to announce that Quebec-based BENCAP Financial has arranged a $5 million debenture for Indusmin. The first tranche Tranche One of several related securities offered at the same time. Tranches from the same offering usually have different risk, reward, and/or maturity characteristics. tranche A class of bonds. of money has arrived, as scheduled. "We're excited to be working with BENCAP Financial and pleased they are our financing partners on our projects," says Carlos Munoz, President & CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Indusmin. The debenture has a three-year term and interest at a rate of 8% per annum Per annum Yearly. payable on expiry of the term. Indusmin Closes Stock Private Placement Indusmin is also pleased to announce it successfully closed a private placement of 1,133,333 units of the company's common stock at a price of $0.30 per unit, valued at a total of $340,000.00. Over 95% of the funds have been received, with the remainder due on closing. Each unit of the placement will consist of one common share and one non-transferable share purchase warrant, with each share purchase warrant entitling the holder to purchase one additional common share of the Company for a period of two years at a price of $0.40 per share. Proceeds of the private placement will be used for working capital and to provide additional funds for exploration and development of the East and West Fields in Indusmin's Kerch Project. David Parry Rejoins Indusmin as Vice President Finance Indusmin is further pleased to announce that Mr. David Parry has rejoined Indusmin as Vice President of Finance. Mr. Parry initially served as Vice President of Finance at Indusmin during 2000 and 2001, and was instrumental in the company's formative stages. "David's experience with Indusmin and belief in our projects and new management team was so valuable we asked him to return and was directly responsible for the negotiating and closing of the private placement and the debenture with Corporation Financiere BENCAP of Quebec," says Mr. Carlos Munoz, CEO and President of Indusmin. The Canadian Venture Exchange The Canadian Venture Exchange (CDNX) is now a defunct stock exchange having been acquired by the TSX Group in 2001 and renamed the TSX Venture Exchange. History of the Canadian Venture Exchange (CDNX) has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. |
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