TSXV:POI.H - Post by User
Comment by
NewDenverKnowson Jan 20, 2016 10:43am
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Post# 24476376
RE:RE:Insider Promissory Notes - Vote of Confidence
RE:RE:Insider Promissory Notes - Vote of Confidence BRIDGE LOAN:
- up to a million dollars but no minimum.
- stand by fee of $20,000 ( 2% ) for the idea of a bridge loan but no loan yet.
- another $20,000 ( 2% more percent ) for committing to a bridge loan anywhere from $1 to $1M. If they end up loaning only $100,000 that's 40% off the top.
my interpretation.
The Corporation also announces today that it has entered in to a standby commitment loan agreement for a secured bridge loan of up to CDN$1 million (the "Bridge Loan"). In consideration for and upon entering into the Bridge Loan, Slyce has agreed to pay a standby fee in the amount of CDN$20,000. Slyce has also agreed to pay a commitment fee in the amount of CDN$20,000 and to issue 150,000 common shares of Slyce ("Common Shares") to the lender, in consideration for any advance under the Bridge Loan, subject to TSX-V approval.
Read more at https://www.stockhouse.com/companies/bullboard/bullboard/v.slc/slyce-inc#ErhdUzXOHoMLCfCI.99