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| Home : CEMATRIX Corporation Announces the Signing of $2,000,000 Bank Loan Commitment Letter with the Canadian Western Bank |
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Mar 01
2016 |
CEMATRIX Corporation Announces the Signing of $2,000,000 Bank Loan Commitment Letter with the Canadian Western Bank |
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CALGARY, ALBERTA--(Marketwired - Feb. 29, 2016) - CEMATRIX Corporation (TSX VENTURE:CVX) (the "Corporation" or "CEMATRIX") is pleased to announce that its wholly owned subsidiary, CEMATRIX (Canada) Inc. (the "Cematrix Canada") has entered into a new financing agreement with the Canadian Western Bank (the "Bank") for a $2,000,000 demand operating loan (the "Operating Loan"). The Operating Loan will bear interest at an amount equal to the greater of 4.70% or 2% above the Bank's prime lending rate, and will be secured by a general security agreement providing a first secured interest in the receivables and inventory of Cematrix Canada and guaranteed by the Corporation with the Corporation granting a general security agreement providing a first secured interest in all present and after acquired property of the Corporation. |
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| Source:http://www.marketwired.com/mw/release.do?id=2101110&sourceType=3 |
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