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TORONTO, ONTARIO--(Marketwired - Aug. 12, 2013) - Gideon Capital Corp. ("Gideon Capital") (TSX VENTURE:GOL.P), a capital pool company as defined under Policy 2.4 of the TSX Venture Exchange (the "Exchange"), announces that it has entered into an agreement with Monterra S.A. ("Monterra") for the conversion of its previously announced loans to Monterra. In connection with Gideon Capital's proposed Qualifying Transaction with Monterra, Gideon Capital had advanced to Monterra $25,000 as an unsecured loan (the "Unsecured Loan") which matured on March 31, 2013, and $225,000 as a secured loan (the "Secured Loan") which matured on May 31, 2013. Gideon Capital and Monterra have entered into an agreement to convert the Unsecured Loan plus accrued interest of $1,461, the Secured Loan plus accrued interest of $24,586, and $100,000 of expenses incurred by Gideon Capital in connection with the Qualifying Transaction with Monterra, which was subsequently terminated, into an aggregate of 7,520,948 common shares of Monterra as part of a significant re-structuring being completed by Monterra. The shares issuable to Gideon Capital will represent approximately 6% of the issued and outstanding shares of Monterra upon completion of its initial re-structuring. |
