SOURCE: Key Capital Corp

March 18, 2015 08:58 ET

Key Capital Corporation Enters Into US$11.5 Million Loan Facility Agreement With GeoGlobal Resources, Inc.

SCOTTSDALE, AZ--(Marketwired - Mar 18, 2015) - Key Capital Corporation (OTC PINK: KCPC) ("Key Capital" or "the Company") and GeoGlobal Resources, (OTC PINK: GGLR) ("GeoGlobal") are pleased to advise that the Companies have entered into a US$11.5 million definitive Loan Agreement pursuant to the conditions of the Stock Purchase agreement entered into between the parties on August 24, 2014.

Interest of 9.5% will be payable on funds drawn down under the facility and the loan is for a five-year term from date of commencement. Draw down on the facility is scheduled to commence within 90 days of GeoGlobal being current with its annual accounts and filings, including all group subsidiaries as well as all group companies being in Good Standing. This latter final outstanding due diligence requirement may still take approximately three to six months as accounts and filings of most of the GeoGlobal group are over two years in arrears with major compliance and filing issues having been negligently disregarded by the former GeoGlobal Chairman/CEO who was dismissed for cause.

Currently further delays are being caused due to the former Chairman/CEO seeking to unlawfully, and with no legitimate board or corporate authority, control the GeoGlobal business interests in India where operations are now greatly enhanced following long overdue settlement of due revenue share through agreement strategized and structured through direct Key Capital initiative. GeoGlobal is also pleased to advise that it has appointed Mr. Prasada Rau Kuna as its Indian Country Manager and Indian Chief Executive Officer and Mr. Kuna is in process of ensuring all operations are legitimized and accountable to the GeoGlobal Board.

ABOUT KEY CAPITAL: Key Capital is focused on building accretive streaming interests in mined commodities and energy production. Through provision of structured financing of mining and energy production projects Key Capital retains life-of-mine interests in the production of mines containing gold, silver, or base metals, or in energy products. The Company is a Georgia corporation headquartered in Scottsdale, Arizona.

For further information, please see www.keycapitalgroup.com or Contact Chris Nichols, President/CEO at +1 (480) 745-2625, or info@keycapitalgroup.com.

ABOUT GEOGLOBAL RESOURCES, (OTC PINK: GGLR): GeoGlobal Resources, is an emerging international oil and gas E&P business with its major interests in India, where oil and gas production has commenced in three Blocks in the onshore Cambay Basin, and future gas production is planned from the major proven offshore Deen Dayal West Field in the Krishna-Godavari Basin where the group partners have spent over US$3 billion on exploration and development to date.

For further information, please see www.geoglobal.com or contact Don Benard, CEO at +1 (480) 745-2625 Ext 6 info@geoglobal.com.

Disclaimer
Statements made in this press release that express the Key Capital or Company or management's intentions, plans, beliefs, expectations or predictions of future events, are forward-looking statements. The words "believe," "expect," "intend," "estimate," "anticipate," "will" and similar expressions are intended to further identify such forward-looking statements, although not all forward-looking statements contain these identifying words. Those statements are based on many assumptions and are subject to many known and unknown risks, uncertainties and other factors that could cause Key Capital's or the Company's actual activities, results or performance to differ materially from those anticipated or projected in such forward-looking statements. Key Capital and the Company cannot assure future financial results, levels of activity, performance or achievements and investors should not place undue reliance on Key Capital's or the Company's forward-looking statements.

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