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CALGARY, ALBERTA--(Marketwire - Nov. 24, 2011) - Detector Exploration Ltd. ("Detector") (TXS VENTURE:DEX) announces that Detector has approved the borrowing of an additional $125,000 from 2 directors of Detector, Edward A. James and Ronald E. Alexander. Edward A James and Ronald E. Alexander are both "related party" to Detector because they are both directors of Detector. Ronald E. Alexander is also President and CEO of Detector. The loans by Ronald E. Alexander ($25,000) and Edward A. James ($100,000) are both unsecured loans, are not convertible into shares or other securities of Detector and bear interest at 10% per annum, which terms the Board of Directors of Detector has concluded constitute commercial terms that are not less advantageous to Detector than if the loan or credit facility were obtained from a person dealing at arm's length with Detector. |
