Mr. Sean Wilton reports
AGRIMARINE ANNOUNCES CREDIT FACILITY OF $4.359 MILLION WITH DUNDEE AGRICULTURAL CORP.
AgriMarine Holdings Inc. has entered into an agreement for a drawdown credit facility from Dundee Agricultural Corp. in the amount of up to $4,359,000.
Funds drawn will bear interest at a rate of 12.68 per cent per year calculated pro rata as to the date of such advance. The facility will mature one year from the date of issue and is secured by all of the assets of the company and its subsidiaries. No finders' fees were paid in connection with the facility.
Funds drawn under the facility will be used for the expansion of operations at the company's fish production facilities in Canada and China and for general working capital.
We seek Safe Harbor.
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