This item is part of Stockwatch's value added news feed and is only available to Stockwatch subscribers.Here is a sample of this item:Artevo receives $100,000 loan from officer 2009-09-01 14:16 ET - News Release Mr. Christopher Talbot reports ARTEVO ANNOUNCES ISSUANCE OF PROMISSORY NOTE
Artevo Corp. has received as a loan, $100,000
from a senior officer and shareholder of the corporation. The purpose and
business reasons for the loan are to further the corporation's stake in the
production, marketing and distribution of collectible fine art products. The
anticipated effect of the loan on the corporation's business and affairs is to
permit the corporation to continue its current projects while it continues its
efforts to secure further working capital for its current and future projects.
The loan is payable on demand with an interest rate of 15 per cent per annum. The
interest will be calculated on a monthly basis on any outstanding portions of
the loan and is to be paid on the first day of each month. Pursuant to the
terms of the loan, the corporation may repay the loan at any time without
repayment or penalties. The loan has been secured by a general security
agreement and the lender was issued a promissory note for the amount of the
loan.
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