BioDE Ventures Ltd.

August 07, 2015 18:36 ET

BioDE Ventures Ltd. Announces Funds Raised From Note Payable

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Aug. 7, 2015) - BioDE Ventures Ltd. (the "Company" or "BioDE") is pleased to confirm that it completed a loan agreement (the "Loan Agreement") with four parties including three directors (collectively, the "Lenders") whereby the Lenders have agreed to lend the Company an, aggregate sum of $110,000, primarily for working capital purposes and to further the Company's business plan.

The Loan Agreement provides for a term of one year and bears simple interest of at 12% per annum, with interest payable upon maturity date. The loan is unsecured. In consideration of the risk associated with the loan, the Company paid the Lenders a 20% bonus consisting of an aggregate of 880,000 common shares of the Company at a deemed price of $0.025 per share.

As a result of the shares issued, Mr. Doug Johnson owns 16% of the Company and became an insider of the Company.

Forward-Looking Statements

Except for statements of historical fact, this news release contains certain "forward‐looking information" within the meaning of applicable securities laws. Forward‐looking information is frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate" and other similar words, or statements that certain events or conditions "may" or "will" occur. Forward‐looking statements are based on the opinions and estimates of management at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward‐looking statements, including, among others, the use of proceeds for the purposes indicated. The Company undertakes no obligation to update forward‐looking information if circumstances or management's estimates or opinions should change except as required by law. The reader is cautioned not to place undue reliance on forward‐looking statements. More detailed information about potential factors that could affect projected results is included in the documents filed from time to time with the Canadian securities regulatory authorities by the Company.

Contact Information

  • BioDE Ventures Ltd.
    Bruce Schmidt
    Chief Executive Officer, Chief Financial Officer & Director