NEW ORLEANS, LOUISIANA–(Marketwired – Aug. 1, 2017) – First Bauxite Corporation (“First Bauxite” or the “Company”) (TSX VENTURE:FBX)(FRANKFURT:FBI)(BERLIN:FBI) is pleased to announce that it has entered into an extension agreement with its noteholders to extend from August 1, 2017 to June 30, 2018 the maturity date of all of the outstanding secured convertible notes issued by the Company to the Pacific Road Resources Funds, Resource Capital Fund V L.P and Resource Capital Fund VI L.P (the “Notes“). The Notes will continue to bear interest at an annual rate of 8% (compounded quarterly and payable on maturity) and can be converted at the option of the holder into common shares of the Company at a conversion price of C$0.10.
About First Bauxite
First Bauxite Corporation (TSX VENTURE:FBX) is a Canadian natural resource company engaged in the exploration and development of bauxite deposits in Guyana, South America and intends to produce ceramic proppants for the energy industry in the future. The Company has its head office in New Orleans, LA and is managed by experienced professionals with worldwide experience in the global industrial minerals industry across a number of industrial minerals. For further information on First Bauxite Corporation, please visit the Company’s corporate website at www.firstbauxite.com.
On behalf of the Board of Directors of First Bauxite Corporation
Alan Roughead, President and CEO
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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