BioHEP Technologies Inc.

October 31, 2014 21:51 ET

BioHEP Technologies Ltd. Announces Loan Agreement

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Oct. 31, 2014) - BioHEP Technologies Ltd. (the "Company" or "BioHEP") is pleased to announce that it will enter into a loan agreement (the "Loan Agreement") with 7 parties including two directors (collectively, the "Lenders") whereby the Lenders have agreed to lend the Company an, aggregate sum of $125,000, 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 immediately. The loan is unsecured. In consideration of the risk associated with the loan, the Company will pay the Lenders a 20% bonus consisting of an aggregate of 1,000,000 common shares of the Company at a deemed price of $0.025 per share.

The securities referred to in this news release have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons absent U.S. registration or an applicable exemption from the U.S. registration requirements. This news release does not constitute an offer for sale of securities for sale, nor a solicitation for offers to buy any securities. Any public offering of securities in the United States must be made by means of a prospectus contacting detailed information about the company and management, as well as financial statements.

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

  • Bruce Schmidt
    Chief Executive Officer, Chief Financial Officer & Director
    Phone: 604-760-0160