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Article: Chai-Na-Ta Receives Extension of Unsecured Term Loan Facility.
- Article from:
- Marketwire Canada
- Article date:
- August 31, 2009
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RICHMOND, BRITISH COLUMBIA, Aug 31, 2009 (Marketwire via COMTEX) -- Chai-Na-Ta Corp. (the "Company") (OTCBB:CCCFF), announced that the Board of Directors of the Company has approved the extension of a non-revolving term loan facility ("Loan") of HK$ 54.7 million (approximately CAD$7.7 million) offered by More Growth Finance Limited ("More Growth"), a company formally under common control. The Loan was originally established on August 18, 2006 as a four year term loan and is due to mature on August 18, 2010.
Under the terms of the extension, the Company will be required to repay HK$3.2 million by August 31, 2009, HK$3.3 million by August 31, 2010 and HK$16.7 ...