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| Home : Maple Leaf Reforestation Obtains 20 Million Rmb ($3.2 Million Cdn) Non-Dilutive Secured Loan from Hong Kong Fund |
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Sep 05
2012 |
Maple Leaf Reforestation Obtains 20 Million Rmb ($3.2 Million Cdn) Non-Dilutive Secured Loan from Hong Kong Fund |
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CALGARY, ALBERTA--(Marketwire - Sept. 5, 2012) - Maple Leaf Reforestation Inc. (TSX VENTURE:MPE) ("Maple Leaf" or the "Corporation") announces that it has signed a secured loan agreement with a private Hong Kong fund company, which was arranged by Huaye Taifu Capital Ltd. ("Huaye Taifu"), for 20 million Rmb (approximately $3.2 million Cdn) (the "Loan"). The lending period for the Loan is September 4th, 2012 to September 3rd, 2018. The Loan bears an interest rate of 12% per annum during the first 3 years and 16% per annum during years 4 to 6 (the "Interest") on amounts drawn by Maple Leaf, and Interest shall be paid 3 days before the anniversary date each year. |
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| Source:http://www.marketwire.com/mw/release.do?id=1697760&sourceType=3 |
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