GC-Global Capital Corp. and Synchronica plc Enter Into $1,500,000 Loan Agreement
07 Febbraio 2011 - 11:02PM
Marketwired
GC-Global Capital Corp. (TSX VENTURE: GDE.A) ("Global Capital") and
Synchronica plc (TSX VENTURE: CTS) ("Synchronica") are pleased to
announce the completion of a secured loan (the "Loan") in the
principal amount of $1,500,000. The net proceeds of the Loan shall
be used in conjunction with Synchronica's recently announced
acquisition of the instant messaging and social networking business
of Neustar NGM Services Ltd. and associated costs.
"Synchronica has a portfolio of mobile messaging services as
well as a growing customer base of international telecom carriers.
We are pleased to be able to provide this financing and are looking
forward to working with them in 2011." said Global Capital's
C.E.O., Jason Ewart.
The Loan matures December 30, 2011 and bears interest at 12
percent per annum, compounded and payable monthly. As additional
consideration for providing the Loan, Global Capital and its
syndicate of co-lenders were issued 450,000 common shares of
Synchronica and paid a C$15,000 structuring fee. The common shares
issued pursuant to the Loan will be subject to resale restrictions
for a period of four months from the closing date under applicable
securities legislation. The issued shares represent a 0.46 percent
dilution of Synchronica's outstanding shares.
Global Capital acted as lead lender in the transaction providing
$800,000 of the Loan along with a syndicate of lenders for the
remaining $700,000. The syndicate of lenders includes a related
party, the GC-Global Capital Lending Partners Limited Partnership
fund for $200,000.
About Global Capital
Global Capital is a merchant bank, which provides bridge loan
services, to companies across many industries such as oil &
gas, mining, real estate, manufacturing, retail, financial
services, technology and biotechnology.
Cautionary Statements
The foregoing information may contain forward-looking statements
relating to the future performance of Synchronica plc.
Forward-looking statements, specifically those concerning future
performance or results, are subject to certain risks and
uncertainties, and actual results may differ materially from
Synchronica's plans and expectations. These plans, expectations,
risks and uncertainties are detailed herein and from time to time
in the public filings and announcements made by Synchronica,
including those made with AIM, a market of the London Stock
Exchange, with the TSX Venture Exchange or with securities
regulators. Synchronica does not assume any obligation to update or
revise its forward-looking statements, whether as a result of new
information, future events or otherwise.
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release. No stock exchange, securities commission
or other regulatory authority has approved or disapproved the
information contained herein.
Contacts: GC-Global Capital Corp. Jason G. Ewart (416) 488-7760
www.gcglobalcapital.ca
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