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| Home : Ecometals Completes Loan Financing |
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Jul 27
2012 |
Ecometals Completes Loan Financing |
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VANCOUVER, BRITISH COLUMBIA--(Marketwire - July 26, 2012) - Ecometals Limited (TSX VENTURE:EC)(BERLIN:GDQ)(FRANKFURT:GDQ) (the "Company") announces that it has completed a loan financing with an arm's length individual (the "Lender") in the principal amount of US$250,000 (the "Loan"). The Loan matures on July 24, 2013, and bears interest at a rate of 10% per annum. In connection with the Loan, the Company issued to the Lender a promissory note in the principal amount of the Loan and 300,000 warrants (the "Warrants"). Each Warrant is exercisable into one common share at a price of C$0.15 per share at any time prior to 5:00 p.m. (Vancouver time) on July 24, 2013. The proceeds from the Loan will help fund a number of the Company's critical corporate initiatives. |
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| Source:http://www.marketwire.com/mw/release.do?id=1684474&sourceType=3 |
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