Carcetti Capital Corp V.CART.H

RE:Pellicourt line of credit..

[northofseven]

Don't forget Kerry Has a 1/3 share of Gastek if CUB defaults on loan repayment.

Capital Financing

 

The new NRU is expected to cost approximately US $1.6 million with half this amount due in the first 30 days. To fund the purchase, the Company will utilize cash on hand and will borrow US $1 million (the "Loan") from an officer of the Company (the "Lender"). The Loan will bear interest at a rate of 6% per annum and payable monthly. The Company will also issue 2.2 million common shares to the Lender as a Loan bonus. The Loan will be repaid in four equal quartley installments commencing September 30, 2018 and ending on June 30, 2019. The Loan and the issuance of the common shares are subject to regulatory approval. The Lender was also granted security over Gastek which indirectly owns the 35% interest in KUB-Gas. The security is available on an event of default and limited only to the amount owing on the Loan including principal and interest. The security is pari passu and equal to the security granted to Pelicourt Ltd. under its existing line of credit.

 

 

Read more at https://www.stockhouse.com/news/press-releases/2017/06/19/cub-energy-inc


I wonder myself if some inside doings are transpiring