Soldi Ventures Inc., reports that it has arranged a loan from arm’s length parties in the principal amount of $350,000 pursuant to promissory notes to be issued to the Lender as security for the Loan.
The Loan will bear interest at 1% per month on the principal amount and will be used for working capital of the Company until the closing of a financing can be completed to repay the Loan. If the Loan is not repaid by December 1, 2012, the interest rate will increase to 2% per month on the principal amount.
In consideration of the Loan, the Company has agreed to issue to the lenders 1,400,000 common shares of the Company as bonus shares (the “Bonus Sharesâ€) to be received on or before the 10th day following the acceptance of the TSX Venture Exchange.
The Loan will bear interest at 1% per month on the principal amount and will be used for working capital of the Company until the closing of a financing can be completed to repay the Loan. If the Loan is not repaid by December 1, 2012, the interest rate will increase to 2% per month on the principal amount.
In consideration of the Loan, the Company has agreed to issue to the lenders 1,400,000 common shares of the Company as bonus shares (the “Bonus Sharesâ€) to be received on or before the 10th day following the acceptance of the TSX Venture Exchange.