OTCBB: GGXCF
TSX.V: GGX
June 19, 2013 - Global Green Matrix Corporation ("GGX" or the "Company") - TSX Venture: Global Green announces that its wholly owned subsidiary 1503826 Alberta Ltd operating as Intercept Rentals has obtained an Equipment Lease credit facility in the total sum of $2.0 million pursuant to a Royal Bank of Canada commitment letter with the Company dated May 13, 2013.
Global Green has agreed to provide a General Security Agreement, a specific charge on equipment with a value greater than $1.0 million, lease agreements with a specific charge on leased equipment and a Corporate Guarantee from Global Green. The interest rate for the equipment lease line of credit is stated to be in the range of 5% to 6%.
President and CEO, Randy Hayward states: "We are pleased that the Royal Bank of Canada is supporting our continued growth as an oilfield service business. This loan, along with the Company's other fund raising efforts, will enable GGX to fulfill its goal of having a total of six heating units fully operational by October of this year."