ABE RESOURCES SECURES $657,244 LOAN FROM INVESTISSEMENT QUÉBEC

ABE RESOURCES SECURES $657,244 LOAN FROM INVESTISSEMENT QUÉBEC

Val-d’Or, Quebec, February 12, 2014 – ABE Resources Inc. (the “Company”) (TSXV: ABE) announces the receipt of a secured loan in the amount of $657,244 from Investissement Québec.

The loan is secured by a movable hypothec on the universality of claims and accounts receivable present and future affecting in first rank the Company’s tax credit receivable present and future. The loan is mainly secured by ABE’s exploration tax credits receivable from Revenue Québec which total $953,702. The loan bears an interest rate of prime (actually 3%) plus 5.5% (effective rate of 11.12%). The loan will mature on December 31, 2014 unless repaid earlier in accordance with the terms and conditions of the loan.

The Company intends to use the proceeds of the loan for advancement of its business plan and for working capital.

 

About ABE Resources

ABE Resources is a Quebec mineral exploration company focused on the discovery and development of mineral deposits of economic potential in Québec. ABE currently has 9,510,944 common shares issued and outstanding.

 

CONTACT INFORMATION:

Yves J. Rougerie

President and CEO

Tel: (819) 874-6200 ext 222

yrougerie@ressourcesabe.ca

 

The Company’s public documents may be accessed at www.sedar.com

For further information on the Company, please visit our website at www.ressourcesabe.ca or contact us at info@ressourcesabe.ca

 

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.

This press release contains “forward-looking information” which is subject to a variety of known and unknown risks, uncertainties and other factors which could cause actual events or results to differ from those expressed or implied by the forward-looking information.

 

More informations
Contact Yves Rougerie
Telephone 819-874-6200 ext. 222
Email yrougerie@ressourcesabe.ca
2018-03-26T14:02:47+00:00February 12th, 2014|