June 12 (Reuters) - Blue Note Mining Inc:
* Obtains creditor protection; announces restructuring
* Says creditors would receive at closing $1.5 million cash, 75% of outstanding
common shares post-restructuring
* Says within 1 year of closing, will pay an additional $1 million to creditors
at an annual interest rate of 10 percent
* Says will continue as a Canadian exploration co
* Says current management and board will continue to identify, acquire and
finance mining operations
* Says noteholders and other creditors have already expressed their willingness
to support terms of plan
* Says creditors would receive at closing $1,500,000 in cash
((Bangalore Equities Newsroom; +91 80 4135 5800; within U.S. +1 646 223 8780))
(For more news, please click here) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
* Obtains creditor protection; announces restructuring
* Says creditors would receive at closing $1.5 million cash, 75% of outstanding
common shares post-restructuring
* Says within 1 year of closing, will pay an additional $1 million to creditors
at an annual interest rate of 10 percent
* Says will continue as a Canadian exploration co
* Says current management and board will continue to identify, acquire and
finance mining operations
* Says noteholders and other creditors have already expressed their willingness
to support terms of plan
* Says creditors would receive at closing $1,500,000 in cash
((Bangalore Equities Newsroom; +91 80 4135 5800; within U.S. +1 646 223 8780))
(For more news, please click here) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.