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Emerald Bay Energy announces loan extension


Published Jan 30, 2014
Emerald Bay Energy Inc.

Emerald Bay Energy Inc. has entered into a loan agreement (the "Loan") with an arm's length lender (the "Lender") in the principal amount of $1,200,000 (the "Loan").

The Loan has been entered into on the same terms as the previous loan agreement, which expired on August 15, 2013. The Loan will bear interest at a rate of 10% per annum, compounded monthly, with a term ending August 15, 2014, subject to standard prepayment and conversion clauses.

In addition to industry standard security, the Loan is secured by a promissory note and security over the oil and gas assets of the Corporation.

Tags: Emerald Bay Energy Inc.




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