Extends Convertible Loan to March 2018
Suite 1100 – 1111 Melville Street, Vancouver, B.C., Canada, V6 E 3V6
Tel. 604-764-6126 Fax. 604-484-7143 | www.DuSolo.com
DUSOLO TO CHANGE NAME TO FENGRO INDUSTRIES CORP.
EFFECTIVE DECEMBER 18, 2017,
EXTENDS CONVERTIBLE LOAN TO MARCH 2018
December 15th, 201 7 - VANCOUVER, BRITISH COLUMBIA: DuSolo Fertilizers Inc.
(TSX-V:DSF) (“DuSolo” or “the Company”) is pleased to announce that it has changed
its name from Dusolo Fertilizer Inc. to Fengro Industries Corp. The Company’s new stock
ticker will be “FGR”. The name change will become effective December 18, 201 7.
The Company is further pleased to announce that it has agreed to an extension of its
convertible loan agreement with Tembo Capital Mining Fund LP (“ Tembo”) announced on
December 8 2016 (the “Loan Agreement”). Pursuant to the Loan Agreement, Tembo
advanced $876,267 (the “Loan") to the Company, which had an interest rate of 10%, and
an establishment fee of 5%. The maturity date of the Loan has been extended to March 31,
2018. The interest rate of 10% is maintained in respect of the extended loan, and a further
2% establishment fee is payable in respect of the extension. Accrued interest and the
original establishment fee have been capitalised and added to the principal amount of the
Loan, bringing it to $ 1,006,267. All other terms of the Loan Agreement remain unchanged.
The extension is subject to TSX -V approval.
Tembo may, at any time, convert the Loan and all interest and fees accruing thereunder into
Units at a price of $0.50 per Unit (the “Conversion Price ”). Each Unit shall consist of one
common share of the Company (a “Common Share ”) and one-half of a Common Share
purchase warrant (“Warrant”). Each whole Warrant will entitle the holder to acquire one
common share at a n exercise price of C$0. 65 for a period of 36 months from the date of
issuance to the Lender.
On behalf of DuSolo Fertilizers Inc.
Giles Baynham , Chief Executive Officer and Director
For more information contact:
Email: [email protected]
Telephone: +1 (604) 764 6126
Suite 1100 – 1111 Melville Street, Vancouver, B.C., Canada, V6 E 3V6
Tel. 604-764-6126 Fax. 604-484-7143 | www.DuSolo.com
Forward-looking statements
Certain information contained in this press release constitutes “forward-looking information”, within
the meaning of Canadian legislation. Generally, these forward-looking statements can be identified
by the use of forward- looking terminology such as “plans”, “expects” or “does not expect”, “is
expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not
anticipate”, or “believes”, or variations of such words and phrases or statements that certain actions,
events or results “may”, “could”, “would”, “might” or “will be taken”, “occur”, “be achieved” or “has the
potential to”. Forward looking statements contained in this press release may include statements
regarding the future operating or financial performance of DuSolo which involve known and unknown
risks and uncertainties which may not prove to be accurate. Actual results and outcomes may differ
materially from what is expressed or forecasted in these forward-looking statements. Such statements
are qualified in their entirety by the inherent risks and uncertainties surrounding future expectations.
Among those factors which could cause actual results to differ materially are the following: market
conditions and other risk factors listed from time to time in our reports filed with Canadian securities
regulators on SEDAR at www.sedar.com. The forward- looking statements included in this press
release are made as of the date of this press release and DuSolo disclaims any intention or obligation
to update or revise any forward- looking statements, whether as a result of new information, future
events or otherwise, except as expressly required by applicable securities legislation.
Neither the TSX Venture Exchange Inc. nor its Regulation Service Provider (as that term is
defined in the policies of the TSX Venture Exchange Inc.) accepts responsibility for the
adequacy or accuracy of this press release.