(via TheNewswire)
Combination of Loans fromLanebury Growth Capital Ltd. and extension of the maturity date:
The Company has entered into an agreement with Lanebury Growth Capital Ltd. to combine the following four existing loans, as of
Loan with the principal amount of
$600,000 CAD carrying 10% interest originally entered onSeptember 2 nd, 2022:Loan with the principal amount of
$1,300,000 CAD carrying 10% interest originally entered onJuly 12 th, 2022:Loan with the principal amount of
$400,000 USD carrying 10% interest originally entered onSeptember 16 th, 2020: andLoan with the principal amount of
$700,000 CAD carrying 10% interest originally entered onJanuary 29 th, 2019.
The maturity date of these four loans was
The above combination and extension of the repayment terms of the loans from Lanebury Growth Capital Ltd. are related party transactions pursuant to Multilateral Instrument 61-101 Protection of Minority Security Holders in Special Transactions (“MI 61-101”) because Mr.
Extension of Repayment Terms of Loans from
The Company has also entered into agreement with
The Company has also entered into agreement with
Company’s CEO
About
Plank is an investment company targeting investments and business opportunities in the technology arena, focusing on early-stage start-up companies that already have developed a customer and revenue base and were seeking funding for expansion.
ON BEHALF OF THE BOARD OF DIRECTORS
“Laurie Baggio”
CEO and Director
For additional information please contact:
Forward Looking Statements
Other than statements of historical fact, all statements included in this news release, including, without limitation, statements regarding future plans and objectives of Plank are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Factors that could cause actual results to differ materially from those expected by Plank are those risks described herein and from time to time, in the filings made by Plank with Canadian securities regulators. Those filings can be found on the Internet at: http://www.sedar.com under the profile of Plank. Investors must not rely on the forward looking statements.
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