VAL-D'OR, QC, Feb. 12, 2014 /CNW Telbec/ - ABE Resources Inc. (the "Company") (TSXV: ABE) announces the receipt of a secured loan in the amount of
$657,244 from Investissement QuÉbec.
The loan is secured by a movable hypothec on the universality of claims
and accounts receivable present and future affecting in first rank the
Company's tax credit receivable present and future. The loan is mainly
secured by ABE's exploration tax credits receivable from Revenue QuÉbec
which total $953,702. The loan bears an interest rate of prime
(actually 3%) plus 5.5% (effective rate of 11.12%). The loan will
mature on December 31, 2014 unless repaid earlier in accordance with
the terms and conditions of the loan.
The Company intends to use the proceeds of the loan for advancement of
its business plan and for working capital.
About ABE Resources
ABE Resources is a Quebec mineral exploration company focused on the
discovery and development of mineral deposits of economic potential in
QuÉbec. ABE currently has 9,510,944 common shares issued and
The Company's public documents may be accessed at www.sedar.com
For further information on the Company, please visit our website at www.ressourcesabe.ca or contact us at firstname.lastname@example.org
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 press release contains "forward-looking information" which is
subject to a variety of known and unknown risks, uncertainties and
other factors which could cause actual events or results to differ from
those expressed or implied by the forward-looking information.
SOURCE ABE Resources Inc.