11:20 AM EST - Search Minerals Inc. : Has closed the first tranche of its previously announced non-brokered secured convertible debenture private placement with InCoR Holdings Plc for gross proceeds of $150,000. InCoR has agreed to provide total funding of $500,000 by way of Debentures. The Debentures will have a maturity date of one year from the date of issuance and will bear simple interest at a rate of 15% per annum, calculated and paid semi-annually, in cash or, at InCoR’s option, payable in Units. Search Minerals Inc.
shares V.SMY are trading unchanged at $0.04.
