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| Home : Courtland Capital Inc. Announces the Advancement of a Secured Loan to Potential Acquisition Company |
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Oct 26
2013 |
Courtland Capital Inc. Announces the Advancement of a Secured Loan to Potential Acquisition Company |
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CALGARY, ALBERTA--(Marketwired - Oct. 25, 2013) - Courtland Capital Inc. (TSX VENTURE:CTD.H) (the "Corporation") announces that it has today executed a secure loan agreement whereby it will advance up to $300,000 to Fixed Income Solutions, LLC, a private U.S. entity that develops and provides financial services technology in the U.S. market ("FIS"). The secured loan is being advanced while the Corporation negotiates a definitive agreement with FIS whereby it is contemplated that FIS will complete a reverse takeover of the Corporation. The terms of the loan provide that the loaned funds shall bear interest compounded annually at a rate of 7% per annum. Funds will be advanced in tranches, with the initial tranche of $175,000 being advanced immediately. It is expected that the Corporation and FIS will arrive at a definitive agreement in the next few weeks with the intention to complete the proposed reverse takeover transaction by March 31, 2014. At the time that the Corporation and FIS enter in a definitive agreement, the Corporation will issue a further comprehensive news release providing details regarding the proposed transaction. |
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| Source:http://www.marketwired.com/mw/release.do?id=1845162&sourceType=3 |
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