Intercept Energy Services Inc. Enters Into Loan Agreement and Issues Bonus Shares
30 Avril 2014 - 2:13AM
Access Wire
VANCOUVER, BRITISH COLUMBIA
/ ACCESSWIRE /
April 29, 2014 / INTERCEPT ENERGY SERVICES INC.
("Intercept" or the "Company") - TSX Venture: IES
-OTC:BB - IESCF
- reports that it has entered into a loan agreement with an
arm's length third party lender(the "Loan Agreement"). Pursuant to
the Loan Agreement, the lender has agreed to make revolving credit
loans to the Company in the principal amount of up to $1,000,000,
of which $686,500 has already been advanced to Intercept. The
amount of the loan is unsecured and bears interest at the rate of
12% per annum. The term of the Loan Agreement is for two
years and provides that at any time after July 29, 2014, the lender
is entitled to demand repayment of the outstanding amount of the
loan. The proceeds from the loan will be used to
retire accounts payable.
In consideration for the lender
agreeing to provide the loan, the Company has issued 900,000 common
shares ("Bonus Shares"), at a deemed price of $0.05 per share,
subject to final approval of the TSX Venture Exchange. The Bonus
Shares will be subject to a hold period that expires on August 30,
2014.
INTERCEPT ENERGY SERVICES
INC. (http://interceptenergy.ca)
Intercept Energy
Services Inc. is an oilfield service company primarily focused on
servicing oil and gas companies, including their fracking
operations. The Company operates a growing number of proprietary,
highly efficient and economical water heating units in Western
Canada and North Dakota making our technology the safest and most
environmentally friendly heating units available.
For More information please
contact
RANDY HAYWARD, PRESIDENT
or BUCHALTER
CONSULTING Phone: 250-247-8689 or 604-687-8855 Toll
free 1 866 631 6537 rhayward@interceptenergy.ca
stan.buchalter@buchalterconsulting.ca
Neither The 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 News Release.
Intercept Energy Services Inc. (TSXV:IES)
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