Torchlight Senior Secured Lender Converts Remaining $1.5 Million of Senior Debt
announced today that Torchlight's only remaining secured noteholder has converted all $1.5 million of its remaining position into common stock at the conversion price of $1.50 per share, for a total of 1,000,000 shares. This leaves Torchlight with no term debt remaining on its books. The blanket liens on the Orogrande Project and the Hazel Project that were securing the debt will be released in full.