Stockwatch

Lanebury Growth Capital Ltd
Symbol	LLL
Shares Issued	10,720,803
Close 2023-06-15	C$ 0.14
Market Cap	C$ 1,500,912
Recent Sedar+ Documents

Lanebury arranges $700,000 loan with Code Consulting

2023-06-23 13:42 ET - News Release

Subject: Lanebury Growth Capital Ltd. a{� €}" for immediat e release PDF Document File: Attachment LLL_20230623_NR_Loans.pdf LANEBURY GROWTH CAPITAL LTD. 750 West Pender Street, Suite 401 Vancouver, British Columbia V6C 2T7 NEWS RELEASE Lanebury Announces $700,000 Loan June 23, 2023 Vancouver, British Columbia Lanebury Growth Capital Ltd. (CSE: LLL) ("Lanebury" or the "Company") announces it has borrowed $700,000 CAD (the "Loan from Code") from Code Consulting Limited ("Code") and issued a promissory note to Code. The Loan from Code bears interest at an annual rate of 12% and is repayable on December 31, 2023. The Company also announces that it has provided a $350,000 loan (the "Loan to Plank") to Plank Ventures Ltd. (CSE: PLNK) ("Plank"). The Loan to Plank carries 12% interest per annum and is repayable on September 30, 2023. Plank issued a promissory note to the Company with respect to the Loan to Plank. The Company further announces that it has provided a $200,000 loan (the "Loan to Mobio") to Mobio Technologies Inc. (TSXV: MBO) ("Mobio"). The Loan to Mobio carries 12% interest per annum and is repayable on December 31, 2023. Mobio issued a promissory note to the Company with respect to the Loan to Mobio. The Loan from Code and the Loans to Plank and Mobio are related party transactions pursuant to Multilateral Instrument 61-101 Protection of Minority Security Holders in Special Transactions ("MI 61- 101"). Mr. Lance Tracey is the beneficial owner of Code, a director of Lanebury and a control person of Lanebury, Plank and Mobio, and, as such, Mr. Tracey has abstained from voting with respect to the Loan from Code and the Loans to Plank and Mobio. With respect to the Loan from Code and the Loans to Plank and Mobio, Lanebury, Plank and Mobio relied on the exemption from the valuation requirement pursuant to section 5.5(b)(Issuer Not Listed on Specified Markets) of MI 61-101 and from the minority shareholder approval requirement prescribed by section 5.7(1)(f) (Loan to Issuer, No Equity or Voting Component) of MI 61-101. There is no undisclosed material information by Lanebury, Plank or Mobio. Lanebury, Plank and Mobio each have at least one independent director, and all independent directors approved the Loan from Code and the Loans to Plank and Mobio. About Lanebury Growth Capital Ltd. Lanebury is an investment company with an investment strategy focused on building a portfolio of high- quality investments in technology start-ups. The Company primarily targets investments that have a monthly revenue model and can be scaled easily using internet and mobile technologies. About Plank Ventures Ltd. Plank is an investment company targeting investments and business opportunities in the technology arena, focusing on early-stage start-up companies that already have developed a customer and revenue base and were seeking funding for expansion. About Mobio Technologies inc. Mobio is a publicly traded company on the TSX Venture Exchange, headquartered in Vancouver, BC, and runs Strutta.com Media Inc. Strutta is a social promotions platform that helps marketers bring potential customers from stranger to fan to customer, and Strutta's Promotions API provides a technology platform that facilitates social media competitions and campaigns for global brands. For more information visit www.mobio.net ON BEHALF OF THE BOARD OF DIRECTORS Lance Tracey Chief Executive Officer and Director Tel: (604) 428-7050 Cautionary Statement Regarding "Forward-Looking" Information Some of the statements contained in this news release are forward-looking statements and information within the meaning of applicable securities laws. Forward-looking statements and information can be identified by the use of words such as "plans", "expects", "intends", "is expected", "potential", "suggests" or variations of such words or phrases, or statements that certain actions, events or results "may", "could", "should", "would", "might" or "will" be taken, occur or be achieved. Forward-looking statements and information are not historical facts and are subject to a number of risks and uncertainties beyond Lanebury's control. Actual results and developments are likely to differ, and may differ materially, from those expressed or implied by the forward-looking statements contained in this news release. Accordingly, readers should not place undue reliance on forward-looking statements. The Company undertakes no obligation to update publicly or otherwise revise any forward-looking statements, except as may be required by law. Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.