3MV Energy Announces Loan of up to $1 M
3MV Energy Corp. (TMV.V) has entered into a loan facility whereby it may borrow up to $1,000,000 from the Invico Performance Yield Fund Limited Partnership at an annual interest rate of 16% for a term of 1 year expiring on December 21, 2013.
3MV has made an initial drawdown of $500,000 and will use the proceeds from the loan to drill a new well in on 3MV's Fiske property. In exchange for providing the Facility, the Company shall provide security in favour of the Lender over all the real and personal property of the Company.
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