Earth Alive Secures CAD 650,000 Through Strategic Loans
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Earth Alive Clean Technologies Inc. Signs Loan Agreements
Earth Alive Clean Technologies Inc. (TSXV: EAC), headquartered in Montréal, has successfully entered into loan agreements amounting to CAD 650,000. This funding partnership involves two lenders, Mr. Nikolaos Sofronis and Mr. Vladimir Cardon de Lichtbuer, who have provided loans of CAD 500,000 and CAD 150,000, respectively.
Loan Details and Financial Security
The loans are subject to an annual interest rate of 15% and are secured by a universal hypothec on the company's movable property. This financial strategy allows Earth Alive to capitalize on the interest accrued on the loans annually. The funds acquired through these loans will primarily serve to enhance the company’s general cash flow needs.
Related Party Transaction and Compliance
The loan agreement with Mr. Nikolaos Sofronis is categorized as a related party transaction under the Multilateral Instrument 61?101 guidelines. The company has opted to take advantage of the exemption from formal valuation and minority shareholder approval, as the value of the loan does not surpass 25% of the company's market capitalization. The board of directors has given unanimous approval for these transactions, with Mr. Sofronis abstaining from the voting process.
Insights into Earth Alive Clean Technologies Inc.
Earth Alive stands as a pioneer in the microbial technologies sector, specializing in innovative solutions that facilitate regenerative agriculture and offer effective methods for natural dust suppression. Their products are designed to be environmentally friendly, catering to both ecological needs and human health.
Optimizing Operations and Financial Management
This influx of capital is poised to significantly bolster Earth Alive's operational capabilities, allowing for increased focus on sales targets and improvement in operational efficiencies as the company navigates the market landscape.
Commitment to Sustainable Practices
Earth Alive's commitment to sustainability extends to all aspects of its operations. By investing in microbial technologies, the company aims not only to enhance agricultural productivity but also to contribute positively to environmental conservation.
Corporate Communication and Inquiries
For more information or inquiries regarding Earth Alive Clean Technologies Inc., individuals can reach out directly to Nikolaos Sofronis, the CEO. He is available for contact via phone at 438-316-3562 or on his mobile at +352-621-395-338. Email correspondence can be directed to nsofronis@earthalivect.com.
Frequently Asked Questions
What is the total amount of the loans Earth Alive has secured?
Earth Alive Clean Technologies Inc. has secured loans totaling CAD 650,000.
Who are the lenders involved in the loan agreements?
The lenders are Mr. Nikolaos Sofronis and Mr. Vladimir Cardon de Lichtbuer.
What will the loan proceeds be used for?
The proceeds from the loans will be utilized for the company’s general cash flow requirements.
What annual interest rate is applied to the loans?
The loans will bear an annual interest rate of 15%.
Is the loan from Mr. Sofronis considered a related-party transaction?
Yes, the loan from Mr. Nikolaos Sofronis is classified as a related-party transaction according to regulatory guidelines.
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