CALGARY, ALBERTA--(Marketwired - Oct. 22, 2013) - Pro-Trans Ventures Inc. ("Pro-Trans" or the "Corporation") (TSX VENTURE:PVI) is pleased to announce that it has entered into an agreement to extend the maturity date of and to amend certain of the terms of its currently outstanding $5,000,000 principal amount convertible debenture (the "Convertible Debenture"), which was issued on October 1, 2011. The Corporation and the lender under the Convertible Debenture have agreed to extend the term of the Convertible Debenture from the initial maturity date of October 1, 2014 (the "Initial Maturity Date") until April 1, 2018. In addition, the parties have agreed to amend the interest rate on the Convertible Debenture beginning after the Initial Maturity Date until the amounts owing are fully paid, from the current rate of eight and one-half (8.5%) percent to twelve and one-half (12.5%) percent.
Pro-Trans is a Calgary-based public corporation listed on the Exchange. The Corporation is actively involved in specialized transportation and logistics services within Western Canada, primarily through its wholly owned subsidiary, Maple Leaf Loading Ltd., based in Prince George, B.C. Maple Leaf Loading Ltd., a mining support corporation, offers specialized transportation services related to the management, handling and transportation of coal and ore concentrates involved in the mining industry in B.C., Alberta and the Yukon.
Neither the TSX-V, nor its Regulation Services Provider (as that term is defined in the policies of the TSX-V) accepts responsibility for the adequacy or accuracy of this release.