Poynt Corporation Secures Agreement for Debtor-In-Possession Financing and Receives New Extension to Creditor Protection

Corporate Breaking News

Home : Poynt Corporation Secures Agreement for Debtor-In-Possession Financing and Receives New Extension to Creditor Protection

Aug 18 2012	Poynt Corporation Secures Agreement for Debtor-In-Possession Financing and Receives New Extension to Creditor Protection
CALGARY, ALBERTA--(Marketwire - Aug. 17, 2012) - Poynt Corporation (TSX VENTURE:PYN) ("Poynt Corp." or the "Company"), a global leader in mobile local search and advertising, today announced that the Court of Queen's Bench of Alberta (the "Court") granted an order extending its creditor protection until Sunday, August 26, 2012, and that an agreement has been made and approved by the Court for debtor-in-possession ("DIP") financing for eighty thousand Canadian dollars ($80,000.00 CDN) at an interest rate of 14% (the "DIP Financing").


Source:http://www.marketwire.com/mw/release.do?id=1692090&sourceType=3

Related News
» Shanghai Richstone Not Proceeding With Balance of Investment in Sunridge Gold Corp. » Ryan Releases Tax Returns; Paid More Than Romney