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| Home : Semcan Inc. Announces New Loan to Retire Obligation Due November 26, 2011 |
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Nov 10
2011 |
Semcan Inc. Announces New Loan to Retire Obligation Due November 26, 2011 |
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TORONTO, ONTARIO--(Marketwire - Nov. 9, 2011) - Semcan Inc. (TSX VENTURE:STT) ("Semcan or the "Company") today announced that it has reached agreement with a lender to provide a $900,000 short-term bridge loan to retire an obligation owing to the same lender due November 26, 2011. The new loan is on similar terms to the one due November 26, 2011, and matures on May 26, 2012. In connection with the new loan, the Company has issued 1,000,000 common share purchase warrants to the lender exercisable at $0.135 until May 26, 2012, and has cancelled 1,000,000 common share purchase warrants which had an original expiry date of November 27, 2011. |
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| Source:http://www.marketwire.com/mw/release.do?id=1584879&sourceType=3 |
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