Mr. Mike Suk reports
SCHWABO ANNOUNCES EXTENSION OF
MATURITY DATE OF CONVERTIBLE LOAN NOTES
Schwabo Capital Corp. has made arrangements with the lenders to extend the maturity date of the outstanding $125,000 convertible loan notes plus interests for another year. The notes originally had a term of three years, and were due and repayable on Oct. 7, 2014.
The notes are unsecured and bear interest at 18 per cent per annum. The lenders may, at its option, convert the notes into common shares of Schwabo at a price of 10 cents per share at any time until Oct. 7, 2015. All other terms of the notes remain unchanged.
The extension is subject to acceptance for filing by the TSX Venture Exchange.
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