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VANCOUVER, BRITISH COLUMBIA--(Marketwired - Jan. 14, 2014) - Oakmont Minerals Corp. (TSX VENTURE:OMK) ("Oakmont") and GreenPower Motor Company Inc. ("GreenPower") today announce that, in connection with the proposed acquisition of GreenPower by Oakmont (the "Acquisition"), as previously announced in the joint news release of Oakmont and GreenPower of November 25, 2013, they have entered into a loan agreement dated December 20, 2013 (the "Loan Agreement") pursuant to which Oakmont has made a bridge loan to GreenPower in the principal amount of $200,000 (the "Loan"). The Loan is secured by the assets and shares of GreenPower's operating subsidiary, GP GreenPower Industries Inc. ("GPI"), pursuant to the terms of a general security agreement dated December 20, 2013 (the "GSA") between Oakmont, GreenPower and GPI, and a security pledge agreement dated December 20, 2013 (the "Pledge Agreement") between Oakmont and GreenPower. |
