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Share Name | Share Symbol | Market | Type |
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TSXV:GDE.A | TSX Venture | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
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0.00 | 0.00% | 0 | - |
GC-Global Capital Corp. ("Global Capital") (TSX VENTURE:GDE.A) is pleased to announce that it has completed a one year, $400,000 secured convertible loan (the "Loan") to Bison Gold Resources Inc. ("Bison Gold") (TSX VENTURE:BGE), a related party as a result of share ownership. The Loan bears interest at a rate of 12% per annum compounded and payable monthly. Global Capital acted as lead lender for the transaction, providing $320,000 of the Loan. The remaining $80,000 was provided by a related party, the GC-Global Capital Lending Partners Limited Partnership (the "Fund"). The Loan is convertible into 1,702,128 units at a conversion price of $0.235 per unit. Each unit is comprised of one common share of Bison Gold and half of one common share purchase warrant. Each whole warrant entitles the holder to purchase one common share at a price of $0.30 for a period of 12 months from the closing date. The Loan is secured by a general security agreement on all property and assets of Bison. The funds are to be used as general working capital. As a follow-up to the Global Capital's press release dated September 21, 2010, in which Global Capital announced that it had completed a one year $350,000 secured convertible loan to Bison Gold, Global Capital wishes to clarify that it acted as the lead lender in the transaction, providing $200,000 of the loan. The syndicate of lenders for the remaining $150,000 included two related parties, Jana Ewart for $50,000 and $50,000 from the Fund. About Global Capital Global Capital is a merchant bank which provides bridge loan services (asset back/collateralized financing), to companies across many industries such as oil & gas, mining, real estate, manufacturing, retail, financial services, technology and biotechnology. In 2009, the Company launched the GC-Global Capital Lending Partners Limited Partnership (the "Fund") which provides secure bridge loans to micro-cap and small-cap companies. The Fund's investment objective is to provide investors with a high yield and the preservation of capital. As the General Partner of the Fund, Global Capital participates alongside the fund in these bridge loan transactions and receives a management fee and performance bonus for its services. The General Partner of the Fund consists of Global Capital and two of its directors.
1 Year GC-Global Capital Corp. Chart |
1 Month GC-Global Capital Corp. Chart |
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