TORONTO, ONTARIO--(Marketwired - Sept. 16, 2013) - Park Lawn Corporation ("Park Lawn") (TSX VENTURE:PLC) announced today that it has implemented the employee share loan plan that was approved at the annual and special meeting of shareholders held on June 18, 2013 (the "ESL Plan"). Park Lawn is loaning $1,575,000 to Nine Two Seven Limited, a corporation controlled by Andrew Clark (the C.E.O. of Park Lawn) for the purpose of Nine Two Seven Limited purchasing 210,000 common shares from the treasury of Park Lawn. Subject to the terms of the ESL Plan, the loan bears interest at the rate of 6% per annum and is repayable within 10 years.
About Park Lawn
Park Lawn Corporation indirectly holds six cemeteries in the Greater Toronto Area and Services Mémorables Harmonia Inc. based in Québec (www.parklawnlp.ca). Its common shares are listed on the TSX Venture Exchange.
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 release.