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| Home : Odin Announces USD$1,000,000 Loan from Ross J. Beaty |
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Jun 30
2016 |
Odin Announces USD$1,000,000 Loan from Ross J. Beaty |
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VANCOUVER, BRITISH COLUMBIA--(Marketwired - June 29, 2016) - Odin Mining and Exploration Ltd. (TSX VENTURE:ODN) (the "Company") announced that it has received a loan in the aggregate amount of USD$1,000,000 from Ross J. Beaty (the "Lender"). The loan accrues interest at a rate of 12% per annum, and will be compounded yearly and not in advance. The loan will be repayable on or before the earlier of June 30, 2017 and two business days after the date on which the Company undertakes any equity financing by way of private placement of shares. The loan cannot be converted into, exchanged for or otherwise modified to create any obligation on the Company to issue, directly or indirectly, any equity or voting securities of the Company or any subsidiary of the Company, including with respect to the repayment of either principal or interest accruing in respect of the loan. |
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| Source:http://www.marketwired.com/mw/release.do?id=2138826&sourceType=3 |
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