GREY:CLIRF - Post by User
Post by
vegman98on May 11, 2021 6:07am
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Post# 33171662
Loans
LoansThe financial hole is gettinng deeper.
The new loans are valued at US$2,375,000 and US$1,900,000 . Each loan bears an interest rate of 9.75% payable semi-annually in May and November of each year. A setup fee of 4% is payable on the new US$1,900,000 loan. The Company provided a general security agreement over the assets of its subsidiary Clearford Koester Canada Inc.. It is expected that the loans will be fully advanced during current fiscal quarter.