By Lisa Kerner
Charlotte, N.C., Aug. 11 – AgriMarine Holdings Inc. accepted loans advanced from Dundee Agricultural Corp. totaling C$3.48 million at an interest rate of 12.68% per annum and maturing in one year.
Proceeds will be used to expand operations at the company’s fish production facilities in Canada and China and for general working capital.
The loans are secured by all of the assets of the company and its subsidiaries.
AgriMarine is a Vancouver, B.C.-based aquaculture technology company that develops, commercializes and licenses proprietary solid-wall closed containment systems for the rearing of finfish.
| Issuer: | AgriMarine Holdings Inc.
|
| Issue: | Loans
|
| Amount: | C$3.48 million
|
| Coupon: | 12.68%
|
| Maturity: | One year
|
| Lender: | Dundee Agricultural Corp.
|
| Distribution: | Private placement
|
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