RRS 0.00% 0.1¢ range resources limited

aoi gets 4m loan for puntland exploration

  1. 1,010 Posts.

    SEP 8, 2008 - 15:46 ET
    Africa Oil Corporate Update

    --------------------------------------------------------------------------------

    View News Release in PDF Format VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 8, 2008) - Africa Oil Corp. ("Africa Oil" or "the Company") (TSX VENTURE:AOI) reports that an insider of the Company has agreed to provide a loan to Africa Oil in the amount of Cdn $4 million at an interest rate of prime plus 2% for short term working capital purposes. As a condition of the loan, the lender will receive a bonus payment of 188,679 shares of Africa Oil, subject to regulatory approval. These shares will be subject to a four month and one day hold period.

    The loan has an initial term of 6 months and may be re-paid in part or full at anytime without penalty.

    ON BEHALF OF THE BOARD

    Rick Schmitt, President and CEO

 
watchlist Created with Sketch. Add RRS (ASX) to my watchlist

Currently unlisted public company.

arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.