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Friday, April 22, 2016 7:01:22 AM
from last 8-K Link
On December 24, 2015, Artec Global Media, Inc. (the "Company") entered into a credit facility arrangement with a lender (the "Credit Facility"). The initial advance under Credit Facility was $150,000, with additional amounts to be funded at the lender's discretion. In connection with the Credit Facility, the Company agreed to pay certain fees to the lender and certain of its affiliates. In connection with the Credit Facility, the Company granted the lender a first priority security interest in all of the Company's assets. Additional details of the Credit Facility will be provided in the Company's next quarterly report on Form 10-Q.
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