True North Corporation-Secured Debenture Financings
2007年11月23日 - 6:01AM
Marketwired
MISSISSAUGA, ONTARIO (TSX VENTURE: TN) (the "Company" or "True
North") - today announced that Quorum Investment Pool Limited
Partnership ("Quorum") has advanced to True North the sum of
$133,487 pursuant to a letter agreement dated October 30, 2007 (the
"Letter Agreement"). Pursuant to the Letter Agreement, Quorum held
$133,487 in escrow for the benefit of True North to be released to
True North in the sole discretion of Quorum. The funds for the
Letter Agreement and an additional $166,513 were advanced by Quorum
and secured by a secured debenture issued by True North to Quorum
on October 30, 2007. This secured debenture was for a principal
aggregate amount of $300,000. The secured debenture bears interest
at 8% per annum, calculated monthly and payable quarterly in
arrears, with a maturity date of November 29, 2007 (the "October 30
Debenture").
This is the third debenture financing that the Company has
completed with Quorum over the past two months. The previous two
such financings closed on September 26, 2007 and October 12, 2007,
respectively (collectively, the "Previous Debentures").
The September 26, 2007 secured debenture financing was for a
principal amount of $207,693 and the October 12, 2007 secured
debenture financing was for a principal amount of $100,000. Both of
the Previous Debentures were issued on the same terms and
conditions as the October 30 Debenture. Quorum has advised the
Company that it intends to extend the maturity for the repayment of
each of the secured debentures until January 15, 2008.
True North is a technology enabled marketing solutions company
serving Fortune 2000 companies throughout North America. The
Company combines traditional below the line marketing solutions
with its proprietary date capture, analysis and marketing engine to
deliver multi-channel promotional and marketing programs and sales
optimization solutions.
The TSX Venture Exchange does not accept responsibility for the
adequacy or accuracy of this release.
Contacts: True North Corporation Alan McMillan CEO (905)
795-5152 Website: www.truenorthcorp.ca
True North Com Npv (TSXV:TN)
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