GC-Global Capital Corp. Announces it has Completed a $350,000 Secured Convertible Loan to Bison Gold Resources Inc.
September 21 2010 - 3:30PM
Marketwired
GC-Global Capital Corp. ("Global Capital") (TSX VENTURE: GDE.A) is
pleased to announce that it has completed a one year, $350,000
secured convertible loan (the "Loan") to Bison Gold Resources Inc.
("Bison Gold") (TSX VENTURE: BGE), a related party as a result of
common officers. The Loan bears interest at a rate of 12% per annum
compounded and payable monthly. The Loan is convertible into
1,750,000 units at a conversion price of $0.20 per unit. Each unit
is comprised of one common share of Bison Gold and half of one
common share purchase warrant. Each whole warrant entitles the
holder to purchase one common share at a price of $0.25 for a
period of 12 months from the closing date. The funds are to be used
as general working capital.
Bison Gold has concurrently completed a non-brokered private
placement financing (the "Financing") of 3,412,223 units at $0.18
per unit for gross proceeds of $614,200. Each unit consists of one
common share and one half of one common share purchase warrant.
Each full warrant entitles the holder to purchase one common share
at a price of $0.25, and has an expiry period of two years.
About Global Capital
Global Capital is a merchant bank which provides bridge loan
services (asset back/collateralized financing), to companies across
many industries such as oil & gas, mining, real estate,
manufacturing, retail, financial services, technology and
biotechnology. In 2009, the Company launched the GC-Global Capital
Lending Partners Limited Partnership (the "Fund") which provides
secure bridge loans to micro-cap and small-cap companies. The
Fund's investment objective is to provide investors with a high
yield and the preservation of capital. As the General Partner of
the Fund, Global Capital participates alongside the fund in these
bridge loan transactions and receives a management fee and
performance bonus for its services.
About Bison Gold Resources Inc.
Bison Gold is a Canadian public company listed on the TSX
Venture Exchange. Bison Gold is focused on gold, base metal and
rare element exploration with property assets in Manitoba, Canada.
Bison Gold's land holdings have historically produced in excess of
200,000 ounces of gold. Further details can be found on Bison
Gold's website at www.bisongold.com.
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Contacts: GC-Global Capital Corp. Jason G. Ewart (416) 488-7760
www.gcglobalcapital.ca
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