Minerals exploration company Hemlo Explorers has applied to delist from the TSX-V and to list its shares on the Canadian Securities Exchange (CSE).
Upon delisting on the TSX-V, Hemlo will list 50 724 920 shares on the CSE. Trading is expected to start on May 23.
The company, which has projects in Ontario and Nunavut, also announced it had entered into two unsecured loan agreements with arm’s length lenders, pursuant to which the lenders would loan to the company C$200 000 at an interest rate of 10% a year compounded daily and payable in arrears every six months. Amounts drawn under the loans are to be used for working capital requirements.