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Itronics raises capital

NNBW staff

Itronics Inc. of Reno said last week it raised $750,000 in capital through the private placement of units composed of convertible promissory notes and warrants.

In a filing with the Securities and Exchange Commission, the company said the notes carry a 10 percent interest rates and are convertible into Itronics common stock at 30 cents a share in the first year and 40 cents a share in later years. The warrants can be exercised at 50 cents a share.

The shares were trading at 16 cents last week.