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$TRLR Trulan Arranged $1,000,000 Debt Financing For Development

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Pyckstocks   Wednesday, 06/19/13 12:33:37 PM
Re: budfoxfun post# 549
Post # of 576 
$TRLR Trulan Arranged $1,000,000 Debt Financing For Development Work On The IGP Iron-Gold-Platinum Project In Chile.
PR Newswire (Thu 7:00AM EDT)
Quote:
HENDERSON, Nev., March 21, 2013 /PRNewswire/ -- Trulan Resources Inc. (TRLR) (the "Company" or "Trulan") reports that it has negotiated a loan agreement with a private investment group for the provision of US$1,000,000. The funds will be provided in stages in order to further various work initiatives on the Company's IGP Project in central Chile.

The term of the loan is two years from the date the full amount is provided to the Company and bears an annual interest rate of 6%. Trulan has already received funds under the agreement, with further tranches to be forwarded as per scheduled intervals.
In addition, the loan may be converted into common shares of the Company at the discretion of the private investment group that is providing the funds at any time during the term of the loan. Conversion may be in whole or in part of the loan value and the price per each share converted is US$0.25 in the first year and US$0.50 in the second year.

The funds will be used to initiate the contemplated exploration plan and move toward a comprehensive mining plan and full feasibility study of the IGP Project.



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