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SEOUL, SOUTH KOREA and TORONTO, ONTARIO--(Marketwired - Dec. 16, 2015) - Nesscap Energy Inc. (Nesscap) (TSX VENTURE:NCE), a global leader in research, development and manufacturing of ultracapacitor products, announces that, subject to its Board of directors and regulatory approvals, Arbat Capital Group Ltd. (Arbat) has agreed to provide financing to Nesscap in an amount of up to USD 3,000,000 (the Loan) on the following terms: (i) the Loan has a maturity date of June 30, 2017; (ii) an initial tranche of USD $1,000,000 will be made available on or around December 31, 2015 with two additional tranches of up to US $1,000,000 each to be made available after January 31, 2016 as to the first tranche and after March 31, 2016 as to the second tranche, both on terms and conditions to be mutually agreed by Arbat and Nesscap; (iii) the interest rate for the Loan is 10% per annum with such interest to be accrued and payable together with the principal amount on June 30, 2017; (vi) the Loan will be secured by a standard security interest over all tangible and intangible assets and undertakings of Nesscap including, but not limited to, the securities of its subsidiaries; and (v) prepayment of principal and interest, in whole or in part, is permitted at any time without premium or penalty. |
