Dec 16 (Reuters) - Primeline Energy Holdings Inc PEH.V :
* Issue 2.48 million new ordinary shares of Primeline to GRF Prime Limited
* Shares are payment of a portion of interest accrued on $18 mln principal amount convertible bonds issued to GRF
* Upon completion of issue, GRF will own 10.585 mln shares, representing approximately 5.6 pct of company
* Shares will be issued at a deemed price of C$0.06 per share Source text for Eikon: Further company coverage: PEH.V
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