E-claim announces the reduction of the loan of $225,000 in favor of 9094-2525 Québec inc. to $100,00025 November 2006
E-Claim Solution inc. ("E-Claim"), a capital pool corporation (TSX Venture Exchange: ECL.P), announces that the amount of the secured loan that E-Claim intended to grant to 9094-2525 Québec inc. (the "Target Company"), upon approval by the Exchange, as announced in E-Claim's press release dated October 12, 1006, has been reduced from $225,000 to $100,000. E-Claim has received the approval of the Exchange to disburse this 100,000 loan.
This loan will bear interest at an annual rate of 10%, will be secured by a hypothec charging all of the Target Company's assets and will be repayable in six month. The loan will allow the Target Company to pursue the development of the technological component of the Electronécar.com Center inc. assets.
The TSX Venture Exchange has in no way passed upon the merits of the proposed transaction and has neither approved nor disapproved the contents of this press release. The TSX Venture Exchange has neither approved nor accepts any responsibility with respect to the veracity or exactitude of this press release.
For further information: Valier Boivin, Director, E-Claim inc., (514) 844-5468
Source: newswire
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