Toronto, Ontario--(Newsfile Corp. - October 12, 2017) - Gunpowder Capital Corp. (CSE: GPC) (CSE: GPC.PR.A) (OTCQB: GNPWF) (FSE: YS6N) ("Gunpowder" or the "Corporation") announced today that it has loaned via a secured promissory note One Hundred and Seventy-Five Thousand Dollars ($175,000.00) CDN to 1123568 BC Ltd., a wholly owned subsidiary of Eastwest BioScience (the "Borrower"). The purpose of the loan is fund the Borrower's working capital requirements.
The loan bears interest at a rate of two percent ("2%") per month / twenty-four percent ("24%") per annum. The loan is due in twelve ("12") months. The note is secured by a 2nd Mortgage charge in favor of Gunpowder on the building owned by the Borrower.
For entering into the secured promissory note with 1123568 BC Ltd., Eastwest Science issued One Hundred Sixteen Thousand Six Hundred and Sixty-Seven ("116,667") bonus shares to Gunpowder.
About Gunpowder Capital Corp.
Gunpowder Capital Corp., is a merchant bank and advisory services firm based in Toronto, Ontario, Canada. Gunpowder invests in both publicly traded and private businesses that have successful management teams and attractive economic models. Gunpowder partners with these businesses to support their growth initiatives with its proven methodology of appropriate financing and structured exits. Gunpowder offers debt financing, including mezzanine and bridge loans, equity financing and advisory services. Gunpowder is also building a portfolio of companies in which it takes a long term position and view. For more information please visit www.gunpowdercapitalcorp.com.
About Eastwest BioScience Inc.
1011705 B.C., doing business as Eastwest BioScience, is a life science consumer product company manufacturing, marketing and distributing hemp-based products. Eastwest is headquartered in Richmond, B.C., with a manufacturing, laboratory and warehouse facility located in Penticton, B.C.
For further information please contact:
Mr. Frank Kordy
CEO & Director
Gunpowder Capital Corp.
T: (647) 466-4037
Mr. Paul Haber
Gunpowder Capital Corp.
T: (416) 363-3833
Information set forth in this news release may involve forward-looking statements under applicable securities laws. The forward-looking statements contained herein are expressly qualified in their entirety by this cautionary statement. The forward-looking statements included in this document are made as of the date of this document and the Corporation disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities legislation. Although Management believes that the expectations represented in such forward-looking statements are reasonable, there can be no assurance that such expectations will prove to be correct. This news release does not constitute an offer to sell or solicitation of an offer to buy any of the securities described herein and accordingly undue reliance should not be put on such. Neither CSE nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.
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