Avcorp extends loan agreement with Panta
Avcorp Industries has extended to its banking agreement with Panta, a private investment company.
Avcorp has renewed its credit agreement and has entered into a $6,000,000 10 per cent secured term loan, both of which will provide the company with operating lines of credit through to April 2012. The term loan contains the right to convert all or any portion of the principal amount of the term loan at a conversion price of $0.07 per common share, up to 85,714,286 common shares.
