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| Home : ISIS Lab Corporation Arranges Binding Term Sheet for Non Brokered Unsecured Debenture Financing |
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Jun 25
2014 |
ISIS Lab Corporation Arranges Binding Term Sheet for Non Brokered Unsecured Debenture Financing |
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TORONTO, ON--(Marketwired - June 24, 2014) - ISIS Lab Corporation (TSX VENTURE: LAB) (FRANKFURT: ISX) (Frankfurt: WKN: A1XB97), (the "Company" or "ISIS"), announces that it has entered into a binding term sheet for a non-brokered unsecured debenture financing (the "Financing") of up to C$2,000,000. Pursuant to the term sheet, the Company will immediately draw down C$1,000,000 and may draw down an additional C$1,000,000 at any time up until July 24, 2015. The terms of the Financing allow repayment by the Company at any time without penalty. Interest of twelve percent per annum will be payable on any funds received by ISIS from the Financing, with a minimum of four months interest payable by the Company. Bonus shares equal to eight percent of any funds drawn down by ISIS pursuant to the Financing will also be issued. All issued shares will be subject to a hold period of four months and one day. |
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| Source:http://www.marketwired.com/mw/release.do?id=1924071&sourceType=3 |
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