GRANVILLE ANNOUNCES SUBSIDIARY COMPANY CONSTRUCTION LOAN REFINANCING
29 Octobre 2010 - 5:34PM
PR Newswire (Canada)
EDMONTON, Oct. 29 /CNW/ -- EDMONTON, Oct. 29 /CNW/ - Granville
Pacific Capital Corporation ("Granville") (TSX Venture: GE)
announces that a subsidiary of the Company, Evergreen Cottages
Corp, has signed a commitment letter to refinance the Company's
construction debt. The Company has obtained and signed a commitment
letter on October 22, 2010 entering into a lending agreement for a
5 year $11.325 million loan from Concentra Financial with a fixed
interest of 4.9% with a targeted completion date of November 4,
2010. Hendrik Van Ryk Jr, CEO comments, "This transaction
represents the position of the Company as we now enjoy strong
operations and cash flows resulting from numerous changes and
positioning with our partners." Granville is involved in the
business of the acquisition and operation of senior citizens'
lodging and care facilities and mental health facilities. The TSX
Venture Exchange does not accept responsibility for the adequacy or
accuracy of this release. To view this news release in HTML
formatting, please use the following URL:
http://www.newswire.ca/en/releases/archive/October2010/29/c7110.html
pbcontact the following officer of Granville:/bbr/ bAndre Van
Ryk/bbr/ Chief Financial Officerbr/ Telephone:(604) 597-7931br/
Facsimile: (604) 596-3641/p
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