| Home : May 2012 : May 02, 2012 News : Semcan Inc. Announces Completion of New Financing and Repayment of Short-Term Note |
Semcan Inc. Announces Completion of New Financing and Repayment of Short-Term Note |
May 02, 2012
TORONTO, ONTARIO--(Marketwire - May 1, 2012) - Semcan Inc. (TSX VENTURE:STT) ("Semcan" or the "Company") today announced that it has completed a previously-announced $1,700,000 financing with Business Development Bank of Canada.
The Company used the proceeds of the financing for working capital purposes, and to retire, on April 26, 2012, an existing obligation of $900,000 bearing interest at 18% which was due no later than May 26, 2012.
http://www.marketwire.com/mw/release.do?id=1651417&sourceType=3
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