GC-Global Capital Corp. Announces It Has Completed a $400,000 Secured Convertible Loan to Bison Gold Resources Inc.
January 17 2011 - 4:02PM
Marketwired
GC-Global Capital Corp. ("Global Capital") (TSX VENTURE: GDE.A) is
pleased to announce that it has completed a one year, $400,000
secured convertible loan (the "Loan") to Bison Gold Resources Inc.
("Bison Gold") (TSX VENTURE: BGE), a related party as a result of
share ownership. The Loan bears interest at a rate of 12% per annum
compounded and payable monthly. Global Capital acted as lead lender
for the transaction, providing $320,000 of the Loan. The remaining
$80,000 was provided by a related party, the GC-Global Capital
Lending Partners Limited Partnership (the "Fund"). The Loan is
convertible into 1,702,128 units at a conversion price of $0.235
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
$0.30 for a period of 12 months from the closing date. The Loan is
secured by a general security agreement on all property and assets
of Bison. The funds are to be used as general working capital.
As a follow-up to the Global Capital's press release dated
September 21, 2010, in which Global Capital announced that it had
completed a one year $350,000 secured convertible loan to Bison
Gold, Global Capital wishes to clarify that it acted as the lead
lender in the transaction, providing $200,000 of the loan. The
syndicate of lenders for the remaining $150,000 included two
related parties, Jana Ewart for $50,000 and $50,000 from the
Fund.
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. The General Partner of the Fund
consists of Global Capital and two of its directors.
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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