Courtland Capital Inc. Announces the Advancement of a Secured Loan to Potential Acquisition Company
CALGARY, ALBERTA--(Marketwired - Oct 25, 2013) - Courtland Capital Inc. (TSX VENTURE:CTD.H) (the "Corporation") announces that it has today executed a secure loan agreement whereby it will advance up to $300,000 to Fixed Income Solutions, LLC, a private U.S. entity that develops and provides financial services technology in the U.S. market ("FIS"). The secured loan is being advanced while the Corporation negotiates a definitive agreement with FIS whereby it is contemplated that FIS will complete a reverse takeover of the Corporation. The terms of the loan provide that the loaned funds shall bear interest compounded annually at a rate of 7% per annum. Funds will be advanced in tranches, with the initial tranche of $175,000 being advanced immediately. It is expected that the Corporation and FIS will arrive at a definitive agreement in the next few weeks with the intention to complete the proposed reverse takeover transaction by March 31, 2014. At the time that the Corporation and FIS enter in a definitive agreement, the Corporation will issue a further comprehensive news release providing details regarding the proposed transaction.
The Corporation is listed on the NEX of the TSX Venture Exchange (the "Exchange") and its common shares remain suspended from trading subject to a satisfactory re-activation review by the Exchange. The Corporation has no active operations or business following the disposition of its wholly owned subsidiary, ForceLogix Inc, in February, 2011. The secured loan announced herein is being provided in connection with the Corporation's current efforts to seek opportunities to acquire assets or a business so that it can meet the minimum listing requirements of the Exchange and reactivate its listing on the Exchange.
"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. This news release may contain forward-looking statements. Forward-looking statements address future events and conditions and therefore, involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements. Such information is subject to known and unknown risks, uncertainties and other factors that could influence actual results or events and cause actual results or events to differ materially from those stated, anticipated or implied in the forward-looking information. Readers are cautioned not to place undue reliance on forward-looking information, as no assurances can be given as to future results, levels of activity or achievements."
