RE:RE:RE:More Warrants[url=https://www.stockwatch.com/News/Item.aspx?bid=Z-C:VID-2340564&symbol=VID®ion=C]Warrants - Link[/url]
VidWRX arranges $250,000 bridge loan
2016-01-18 11:35 ET - News Release
Mr. George Fleming reports
VIDWRX ARRANGES FINANCING TRANSACTION
VidWRX Inc. has arranged a bridge loan in the aggregate principal amount of $250,000. The loan is repayable within 45 days and bears an interest rate of 10 per cent per annum. As partial consideration for the loan, the company has agreed, subject to the approval of the TSX Venture Exchange to issue to the lenders a total of 4,166,666 share purchase warrants exercisable for a period of one year from the closing date at a price of six cents per warrant.
The company will pay a finder's fee of $20,000 in connection with the loan, to an arm's-length finder who introduced the company to the lenders. Funds from the loan will be used for general working capital and the completion of the loan is subject to exchange approval. All securities issued in connection with the loan will be subject to a four-month-and-one-day statutory hold period.
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