Pursuant to loan agreements (the "Loan Agreements") entered into between the Company and certain lenders (the "Lenders") each Lender has agreed to loan the Company up to
Upon completion of the Proposed Transaction, any amounts outstanding under the Loan Agreements will automatically convert into common shares of the Company at a conversion price of
The Company intends to use the proceeds of the Debt Financing for working capital and for costs related to the Proposed Transaction. All securities issued pursuant to the Debt Financing will be subject to a statutory hold period of four months and one day from the date of issuance.
ON BEHALF OF WOODROSE CORPORATION
NEITHER THE 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.
Cautionary Note Regarding Forward-Looking Statements
Information set forth in this news release may involve forward-looking statements under applicable securities laws. Forward-looking statements are statements that relate to future, not past, events. In this context, forward-looking statements often address expected future business and financial performance, and often contain words such as "anticipate", "believe", "plan", "estimate", "expect", and "intend", statements that an action or event "may", "might", "could", "should", or "will" be taken or occur, or other similar expressions. All statements, other than statements of historical fact, included herein including, without limitation, statements about the terms of the Debt Financing and the use proceeds, are forward-looking statements. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Forward-looking statements are made based on management's beliefs, estimates and opinions on the date that statements are made and the respective companies undertakes no obligation to update forward-looking statements if these beliefs, estimates and opinions or other circumstances should change, except as required by applicable securities laws. Investors are cautioned against attributing undue certainty to forward-looking statements.
FOR FURTHER INFORMATION PLEASE CONTACT:
Woodrose Corporation Darren Devine+1 604-638-8067 Source: Woodrose Corporation