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Melior Resources Inc. (TSXV:MLR) and Firestone Ventures Inc. (TSXV:FV) announced that they have entered into a letter of intent regarding a friendly takeover of Firestone by Melior, and that Melior has offered Firestone a bridge loan of up to C$500,000.
Melior Resources Inc. (TSXV:MLR) and Firestone Ventures Inc. (TSXV:FV) announced that they have entered into a letter of intent regarding a friendly takeover of Firestone by Melior, and that Melior has offered Firestone a bridge loan of up to C$500,000.
As quoted in the press release:
Melior and Firestone have entered into a revolving credit facility pursuant to which Melior has agreed, subject to the satisfaction of certain conditions, to provide Firestone up to $500,000 for certain stipulated corporate purposes. The Bridge Loan matures on January 4, 2014 and bears interest at a rate of 20% per annum.
To view the whole press release, click here.
