Sign up USA
Proactive Investors - Run By Investors For Investors

Noram Ventures set for C$200,000 loan from three directors and a shareholder

The loan will bear interest at 12.5% a year calculated half-yearly, the group said
Noram Ventures set for C$200,000 loan from three directors and a shareholder
The loan and bonus will be due and payable in full on August 24, 2018

Lithium and graphite firm Noram Ventures Inc (CVE:NRM) will borrow up to C$200,000 in a loan from three directors and one shareholder to pay for land management fees and exploration.

The loan will bear interest at 12.5% a year calculated half-yearly, and as Noram has no current ability to repay the principal amount or interest, Noram shall also pay a bonus to the lenders of 12.5% of the principal in cash.

The loan and bonus will be due and payable in full on August 24, 2018.

"The loan proceeds will be used to pay incurred and ongoing BLM sustaining fees, and exploration expenses for the company," it said in a regulatory statement on Wednesday.

View full NRM profile View Profile

Noram Ventures Timeline

Related Articles

Bryah Resources: Access latest PPT from Proactive's CEO Sessions
July 26 2017
Neil Marston introduced the Bryah Resources IPO to investors.
Intermin Resources: Access latest PPT from Proactive's CEO Sessions
April 12 2017
Jon Price talked funding drilling program in world-class region with investors.
picture of mining drill
August 03 2017
Latest results from drilling at the Sanama Hill target at Ferensola confirmed continuity of the mineralisation

No investment advice

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable or advisable for any specific person. You understand that the Company receives either monetary or securities compensation for our services. We stand to benefit from any volume this write-up may generate.

You further understand that none of the information providers or their affiliates will advise you personally concerning the nature, potential, advisability, value or suitability of any particular security, portfolio of securities, transaction, investment strategy, or other matter.

You understand that the Site may contain opinions from time to time with regard to securities mentioned in other products, including company related products, and that those opinions may be different from those obtained by using another product related to the Company. You understand and agree that contributors may write about securities in which they or their firms have a position, and that they may trade such securities for their own account. In cases where the position is held at the time of publication and such position is known to the Company, appropriate disclosure is made. However, you understand and agree that at the time of any transaction that you make, one or more contributors may have a position in the securities written about. You understand that price and other data is supplied by sources believed to be reliable, that the calculations herein are made using such data, and that neither such data nor such calculations are guaranteed by these sources, the Company, the information providers or any other person or entity, and may not be complete or accurate.

From time to time, reference may be made in our marketing materials to prior articles and opinions we have published. These references may be selective, may reference only a portion of an article or recommendation, and are likely not to be current. As markets change continuously, previously published information and data may not be current and should not be relied upon.

Copyright © Proactiveinvestors.com, 2017. All Rights Reserved - Proactive Investors North America Inc., Proactive Investors LLC

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use