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VANCOUVER, BRITISH COLUMBIA--(Marketwired - Dec. 8, 2016) - DuSolo Fertilizers Inc. (TSX VENTURE:DSF) ("DuSolo" or "the Company") is pleased to announce that it has finalized the terms of an extension of its convertible loan agreement with Tembo Capital Mining Fund LP ("Tembo") announced on October 1, 2015 (the "Loan Agreement"). Pursuant to the Loan Agreement, Tembo advanced $750,000 (the "Loan") to the Company, which was originally due on September 30, 2016, and had an interest rate of 10%, and an establishment fee of 5%. The maturity date of the Loan has been extended to December 7, 2017. The interest rate of 10% is maintained in respect of the extended loan, and a further 5% establishment fee is payable in respect of the 12-month extension. Accrued interest and the original establishment fee have been capitalised and added to the principal amount of the Loan, bringing it to $876,267. |
