Shoal Point Arranges Loan Facility with CEO
Shoal Point Energy (CSE: SHP) has secured a revolving loan facility with its CEO Mark Jarvis. The arrangement allows the company to borrow up to $150,000 in installments as agreed upon between the company and the CEO. The loan carries a 5% annual interest rate, compounded semi-annually. As security for the loan, Shoal Point has provided a first-ranking security interest in all its personal and after-acquired personal property.
Shoal Point Energy (CSE: SHP) ha ottenuto una linea di credito rotativa con il suo CEO Mark Jarvis. L'accordo consente all'azienda di prendere in prestito fino a $150,000 in rate concordate tra l'azienda e il CEO. Il prestito ha un tasso d'interesse annuale del 5%, composto semestralmente. A garanzia del prestito, Shoal Point ha fornito un interesse di sicurezza di primo grado su tutti i suoi beni personali e sui beni personali acquisiti successivamente.
Shoal Point Energy (CSE: SHP) ha asegurado una línea de crédito revolvente con su CEO Mark Jarvis. El acuerdo permite a la empresa pedir prestado hasta $150,000 en cuotas acordadas entre la empresa y el CEO. El préstamo tiene una tasa de interés anual del 5%, compuesta semestralmente. Como garantía del préstamo, Shoal Point ha proporcionado un interés de seguridad de primer rango sobre todos sus bienes personales y los bienes personales adquiridos posteriormente.
쇼얼 포인트 에너지 (CSE: SHP)는 CEO인 마크 자비스와 회전 대출 시설을 확보했습니다. 이 계약은 회사가 CEO와 합의한 대로 $150,000까지 할부로 대출을 받을 수 있도록 합니다. 대출은 연 5%의 이자율을 가지며, 반기 복리로 계산됩니다. 대출의 담보로 쇼얼 포인트는 모든 개인 자산 및 이후에 취득한 개인 자산에 대한 1순위 담보권을 제공했습니다.
Shoal Point Energy (CSE: SHP) a sécurisé une ligne de crédit revolving avec son PDG Mark Jarvis. Cet arrangement permet à l'entreprise d'emprunter jusqu'à $150,000 en versements convenus entre l'entreprise et le PDG. Le prêt a un taux d'intérêt annuel de 5%, composé semestriellement. En garantie du prêt, Shoal Point a fourni un intérêt de sécurité de premier rang sur tous ses biens personnels et les biens personnels acquis par la suite.
Shoal Point Energy (CSE: SHP) hat eine revolvierende Kreditfazilität mit seinem CEO Mark Jarvis gesichert. Die Vereinbarung ermöglicht es dem Unternehmen, bis zu $150,000 in Raten zu leihen, die zwischen dem Unternehmen und dem CEO vereinbart wurden. Der Kredit hat einen jährlichen Zinssatz von 5%, der halbjährlich kapitalisiert wird. Als Sicherheit für den Kredit hat Shoal Point ein erstes Sicherungsrecht an allen seinen persönlichen und nachträglich erworbenen persönlichen Vermögenswerten bereitgestellt.
- Secured additional working capital through $150,000 loan facility
- Favorable 5% interest rate, below typical market rates
- Company requiring insider funding indicates potential cash flow concerns
- Assets pledged as collateral create additional financial risk
- Increased debt burden and interest expenses
Vancouver, British Columbia--(Newsfile Corp. - April 1, 2025) - Shoal Point Energy Ltd. (CSE: SHP), or "the Company", announced today that the Company has entered into a revolving loan facility with its CEO, Mark Jarvis, whereby Mr. Jarvis has agreed to loan the Company up to
Interest on outstanding principal shall be charged to Shoal Point at the rate of five percent (
Shoal Point has granted a registrable first ranking security interest in all of its personal and after acquired personal property as security for the Loan.
About Shoal Point Energy Ltd.
Shoal Point Energy Ltd. is a public company listed on the CSE exchange under the symbol "SHP". The company is suing the government of Newfoundland and Labrador substantial damages for "de facto expropriation" or "constructive taking" of its rights to develop its oil and gas interests in western Newfoundland. The claim document is on our website at:
https://shoalpointenergy.com/assets/docs/reports/Shoal-Point-Energy_Signed-Statement-of-Claim.pdf
For further information, please contact:
Mr. Mark Jarvis,
Chief Executive Officer
Tel - 604-681-2300
The Canadian Securities Exchange (CSE) has neither approved nor disapproved the contents of this news release.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/247012
FAQ
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