Aylen Line of Credit

World News: . []

TORONTO, April 16, 2018 (GLOBE NEWSWIRE) -- Aylen Capital Inc. (the “”) (CSE:AYL) announced today that it has arranged a line of credit (LOC) of $50,000 expiring December 31, 2019. The LOC is being provided by John Pennal, the President and CEO of the Company. Advances under the LOC will be repayable on demand, will bear interest at the rate of 5% per annum, will be secured against all the assets of the Company and will be convertible into common shares of the Company at the rate of $0.02 per share being the last closing price of the Company’s shares. Advances under the LOC may be used by the Company for working capital purposes. The transaction was negotiated and approved on behalf of the Company by a special committee of independent directors.

Aylen Capital Inc. carries on a web-based survey and data collection business based in Markham, Ontario under the name Grapevine Solutions (“Grapevine”). In addition it has a venture investment in a private company.

John PennalPresident and Chief Executive OfficerAylen Capital Inc.(416) 956-4926

More news and information about Aylen Capital Inc.

Published By:

Globe Newswire: 21:00 GMT Monday 16th April 2018

Published: .

Search for other references to "aylen" on SPi News


Previous StoryNext Story

SPi News is published by Sector Publishing Intelligence Ltd.
© Sector Publishing Intelligence Ltd 2018. [Admin Only]
 
Sector Publishing Intelligence Ltd.
Ground Floor Offices, Little Keep Gate, Barrack Road, Dorchester, Dorset DT1 1AH
Registered in England and Wales number 0751938.
 
Privacy Policy | Terms and Conditions | Contact Us
 

Advertising on SPi News: Information For Advertisers