GC-Global Capital Corp. Announces Advances of Bridge Loans
17 Maggio 2011 - 10:30PM
Marketwired
GC-Global Capital Corp. (TSX VENTURE: GDE.A) ("Global Capital" or
the "Company") is pleased to announce the completion of a secured
loan in the principal amount of $1,250,000 to Big Deal Games Inc.
Global Capital acted as the lead lender in the transaction
providing $625,000 along with a syndicate of lenders for the
remaining $625,000.
Big Deal Games Inc. and its related company, TimePlay
Entertainment, are pioneers of social interactive entertainment
with a proven platform and patents that provide a strong
competitive advantage in cinemas and other major channels. The
platform has been successfully deployed in bingo clubs, casinos,
cruise ships and will soon be launched in cinemas. The Company also
announces it has completed a 12 month secured bridge loan in the
principal amount of $3,000,000 to a private company in the United
States. Global Capital, along with GC-Global Capital Lending
Partners Limited Partnership acted as the lead lenders in the
transaction providing $1,785,000 and $100,000 respectively along
with a syndicate of lenders for the remaining $1,115,000. GC-Global
Capital Lending Partners Limited Partnership is a related party.
The loan bears interest at 10% per annum and as consideration for
the loan, Global Capital has entered into a lifetime income
assignment agreement for a percentage of the gross revenues from
the borrower. A related party received a commission on the
transaction. This payment is subject to regulatory approval.
About Global Capital
Global Capital is a merchant bank, which provides bridge loan
services (asset back/collateralized financing), to companies across
many industries such as oil & gas, mining, real estate,
manufacturing, retail, financial services, technology and
biotechnology.
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.
Contacts: GC-Global Capital Corp. Jason G. Ewart (416) 488-7760
www.gcglobalcapital.ca
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