Correcting and Replacing: Aqua-Pure Ventures Inc. Secures $3,000,000 5-Year Loanadmin
Correcting and Replacing: Aqua-Pure Ventures Inc. Secures $3,000,000 5-Year Loan
Calgary, Alberta CANADA, January 13, 2014 /FSC/ – Aqua-Pure Ventures (AQE – TSX Venture), This press release replaces the press release disseminated January 13, 2014 at 8:00AM ET. The original press release sentence was missing the final sentence in the 1st paragraph. The corrected press release is below.
Aqua-Pure Ventures Inc. Secures $3,000,000 5-Year Loan
Calgary, Alberta CANADA, January 13, 2014 /FSC/ – Aqua-Pure Ventures (AQE – TSX Venture), (“Aqua-Pure” or the “Company”) a premier recycler of oil field and shale gas wastewater, today announced that it has entered into a $3,000,000 five year secured loan agreement (the “Loan”) with Agriculture Financial Services Corporation (“AFSC”) bearing interest of 5.12% per annum, payable monthly. Proceeds from the Loan will be primarily used for the construction of additional NOMAD and ROVER units that will be used to address the growing demand for oil field and shale gas wastewater recycling. The loan will be drawn progressively throughout the construction phase.
The Loan is secured by: (i) a promissory note and security agreement against all present and subsequently acquired personal property of Aqua-Pure; (ii) an unlimited guarantee from Fountain Quail Water Management LLC, a wholly-owned subsidiary of Aqua-Pure; (iii) an unlimited guarantee from Jacob Halldorson, the Chief Executive Officer and a director of Aqua-Pure; (iv) an unlimited guarantee from Hallmark Resources Ltd. (“Hallmark”), a company that is a control person of Aqua-Pure and is held in part by two directors of Aqua-Pure, Jacob Halldorson and Brent Halldorson; and (v) a mortgage on certain lands owned by Hallmark. No securities are or will be issued in connection with the Loan.
Agriculture Financial Services Corporation is a Canadian Government Provincial Crown Corporation with a private sector Board of Directors. AFSC delivers strategic financial services and partners with agricultural producers, agribusiness and commercial entities on behalf of the Alberta government to support and promote business development. AFSC’s lending programs support the development and expansion of agriculture, agribusiness, value-added enterprises and commercial operations.
About Aqua-Pure Ventures Inc.
Aqua-Pure (www.aqua-pure.com) is the premier recycler of oil field wastewater in North America. The Calgary and Texas based firm has developed and commercialized a cutting-edge, cost effective water recycling technology that transforms wastewater from a liability to an asset. Aqua-Pure’s oil and gas wastewater services and technology solutions enhance environmental sustainability through the utilization of patented and proprietary technologies. The Corporation’s common shares are listed on the TSX Venture Exchange under the trading symbol “AQE.”
For more information, please contact: email@example.com or:
Chief Financial Officer
(403) 301 4123 ext 26
Grannus Financial Advisors, Inc.
This press release contains forward-looking information respecting the Company’s use of the proceeds from the Loan. These forward-looking statements reflect management’s current views and are based on certain expectations, estimates and assumptions which may prove to be incorrect and which could cause actual results to differ from those anticipated. These forward-looking statements are made as of the date of this news release.
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.
To view the press release as a PDF file, please click on the following link:
Source: Aqua-Pure Ventures (AQE – TSX-V) http://www.aqua-pure.com
Maximum News Dissemination by FSCwire. http://www.fscwire.com
Posted: January 13th, 2014 under FSCWIRE.