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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Karel Capital Corp. | TSXV:KRL.P | TSX Venture | Ordinary Share |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 0.00 | - |
Karel Capital Corporation ("Karel" or the "Company") (TSX VENTURE:KRL.P), a capital pool company announces that in contemplation of the amalgamation between Karel and Preo Software Inc. ("Preo") (CNSX:PKM) as announced in a joint press release between Karel and Preo on January 29, 2010, (the "Amalgamation") the Company is seeking the approval of the TSX Venture Exchange (the "Exchange" or "TSX-V") for Karel to provide a bridge loan of $225,000 to Preo (the "Bridge Loan") to fund Preo's operations prior to the Amalgamation. In the event that the Amalgamation is not completed, the Bridge Loan will become payable in full on demand. The Bridge Loan is subject to prior approval of the Exchange and completion of all satisfactory due diligence. The Bridge Loan will bear interest at the annual rate of 4 %, all Preo debt will be subordinated to the Bridge Loan, and the Bridge Loan will be secured by a General Security Agreement on the current and after-acquired assets of Preo. The Bridge Loan will be reimbursable at the latest date on May 3, 2010. If the Amalgamation is completed on or before May 3, 2010, the Bridge Loan will not have to be reimbursed by Preo. Trading of the common shares of Karel has been halted in connection with the dissemination of this press release and will recommence at such time as the TSX-V may determine, having regard to the completion of certain requirements pursuant to TSX-V Policy 2.4 (the "Policy"). About Karel Capital Corporation Karel Capital Corporation is a capital pool company as defined by the Policy. The principal business of the Company is to identify and evaluate opportunities for the acquisition of an interest in assets of businesses and, once identified and evaluated, to negotiate an acquisition or participation subject to receipt of shareholder approval and acceptance for filing by the Exchange. KAREL CAPITAL CORPORATION Cameron Schuler
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1 Month Karel Capital Corp. Chart |
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