Carrus Capital Corporation

Carrus Capital Corporation

October 06, 2014 23:56 ET

Carrus Capital Corporation Announces Loan Agreement & New CEO

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Oct. 6, 2014) - Carrus Capital Corporation (TSX VENTURE:CHQ) ("Carrus" or the "Company") is pleased to announce that it has entered into a loan agreement (the "Loan Agreement") with six parties, including one director (collectively, the "Lenders"), whereby the Lenders have agreed to lend the Company an aggregate sum of $130,000, primarily to cover its working capital deficit and to pay current outstanding accounts payable of over $110,000.

The Loan Agreement provides for a term of one year and bears simple interest 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 260,000 common shares of the Company at a deemed price of $0.10 per share.

The Loan Agreement and bonus shares are subject to acceptance for filing by the TSX Venture Exchange.

The Company is also pleased to announce the appointment of Mr. Chester Shynkaryk as Chief Executive Officer. Mr. Shynkaryk was the founding president of Golden Queen Mining Company Ltd. and Visionary Mining Corp. As an officer and director, he has over 30 years of experience in junior public company management, promotion and finance.

Mr. Bruce Schmidt has resigned as Chief Executive Officer of the Company effective September 11th 2014, and will continue to serve Carrus in his role as a director. The Company wishes to thank to Mr. Schmidt for his commitment and contributions, and wishes him the best of luck in all future endeavours.

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 containing detailed information about the company and management, as well as financial statements.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

Contact Information

  • Chester Shynkark
    Chief Executive Officer
    Phone: 604-722-9140