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BOCA RATON, FLORIDA--(Marketwired - Jan. 17, 2014) - Poly Shield Technologies Inc. ("Poly Shield"), (OTCBB:SHPR) announces that on January 15, 2014, Poly Shield entered into a binding Letter Agreement ("Agreement") with KF Business Ventures LP (the "Lender"), whereby the Lender agrees to lend to the Company up to $2,000,000 (the "Loan"). The Loan is to be advanced in four equal installments of $500,000 each, with the first installment advanced on execution of the Agreement. The remaining $1,500,000 will be advanced in equal installments on the first day of each consecutive calendar month, subject to certain conditions. The Company has the right to prepay the amounts outstanding under the Loan at any time in increments of not less than $250,000. |
