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Noble Iron Announces Additional Financing |
March 29, 2017
SAN FRANCISCO, CALIFORNIA--(Marketwired - March 28, 2017) - Noble Iron Inc. ("Noble Iron," or "the Company") (TSX VENTURE:NIR) announced a $3 million loan facility, of which $2 million has been committed, to fund working capital and growth initiatives. The loan has a term of one year and is secured by assets of the Company. Terms of the financing include an annual interest rate of 15%, paid quarterly, with no principal payments due until maturity, and an early exit fee in the amount of 12% if the loan is repaid within six months and 10% if paid back beyond six months. Related parties participated for $1.5 million of the committed proceeds.
Link: http://www.marketwired.com/mw/release.do?id=2206039&sourceType=3
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