Golden Phoenix Minerals Inc. (OTCPK:GPXM) announced that it has received $40,000 in funding from an institutional investor in June 2013. The company issued convertible note in the transaction. The note carries a coupon of 8% per annum and will mature six months from the closing date.

The note is convertible into common stock at the option of the note holder. This is the first round of convertible debt financing for the company.