|
TORONTO, ONTARIO--(Marketwired - Feb. 26, 2015) - AirIQ Inc. ("AirIQ" or "the Company") (TSX VENTURE:IQ), a supplier of wireless location-based services, today announced that it has repaid the outstanding amount due on its loan to Mosaic Capital Partners LP ("Mosaic").
In December 2013, the Company entered into a credit facility with Mosaic and executed a promissory note in favour of Mosaic in the amount of $100,000. The loan had a maturity date of June 17, 2015 and bore interest at a rate of 15% per annum, calculated daily and payable monthly in arrears. Interest only was payable on the loan on a monthly basis, and the loan was secured by a charge over all of AirIQ's property and assets, subordinate to the Company's bankers. |
