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| Home : STT Enviro Corp. Announces Closing of First Tranche of New Financing |
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Aug 24
2013 |
STT Enviro Corp. Announces Closing of First Tranche of New Financing |
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TORONTO, ONTARIO--(Marketwired - Aug. 23, 2013) - STT Enviro Corp. (TSX VENTURE:STT) ("STT" or the "Company") today announced that it has drawn the first tranche of a previously-announced $1,700,000 term loan (the "Loan") from Business Development Bank of Canada. The amount of the first tranche is $947,020.
The net proceeds of the first tranche were used to purchase, through a wholly-owned subsidiary, $937,520 of secured convertible debentures issued by the Company which mature March 31, 2014. The Company intends to draw the second tranche of the Loan on March 31, 2014 to assist with the retirement of the remaining secured convertible debentures maturing March 31, 2014 and April 24, 2014. |
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| Source:http://www.marketwire.com/mw/release.do?id=1824112&sourceType=3 |
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