VANCOUVER, British Columbia – Ten Peaks Coffee Company Inc. (“the Company” or “Ten Peaks”) (TSX:TPK) is pleased to announce that, further to its press release of October 3, 2016, the Convertible Debenture (“Convertible Debenture”) transaction with Mill Road Capital II, L.P. (“Mill Road Capital”), has closed.
Pursuant to the transaction, Mill Road Capital subscribed for an unsecured subordinated Convertible Debenture in the amount of $15,000,000. The Convertible Debenture bears interest at a rate of 6.85% over its 7-year term and is convertible into Common Shares of the Company at a conversion price of $8.25 per Common Share.
Further details about the transaction can be obtained from Ten Peaks’ October 3, 2016 press release available on the Company’s website and on SEDAR.
