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Bravada Gold Corporation (TSXV:BVA,FWB:BRT) secured two loan agreements pursuant to which certain lenders will loan Bravada an aggregate amount of $285,000.
As quoted in the press release:
Each Loan is repayable on demand, provided that a Lender shall not make demand for repayment of its Loan before 6 months after the date of such Loan. Interest is payable quarterly at a rate of prime plus 2% per annum. At the election of Bravada, interest may be paid by the issuance of common shares in accordance with the Policies of the TSX Venture Exchange. If, at the time a Lender makes demand for repayment of a Loan Bravada is unable or unwilling, in its sole discretion, to repay the loan in cash, Bravada may, subject to TSX Venture Exchange approval, repay the Loan by issuing common shares to the Lender.
Click here to read the Bravada Gold (TSXV:BVA,FWB:BRT) press release
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