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| Home : Mindoro Arranges Bridging Loan |
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Dec 09
2013 |
Mindoro Arranges Bridging Loan |
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EDMONTON, ALBERTA--(Marketwired - Dec. 9, 2013) - Mindoro Resources Ltd. (TSX VENTURE:MIO)(ASX:MDO)(FRANKFURT: WKN 906167) is pleased to announce that it has entered into agreements with certain individuals to borrow an aggregate of up to $175,000. The loans bear interest of 15% per annum, payable quarterly, and the aggregate principal amount of the loans will be payable two years from the date of the advance. The loans may be prepaid, at any time without premium or penalty, with the consent of both the Company and the lenders. The Company intends to repay the principal amount of the loans and the interest from funds that become available from operations or any subsequent debt or equity financings. The proceeds of the loans will be used for general working capital. |
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| Source:http://www.marketwired.com/mw/release.do?id=1860598&sourceType=3 |
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