Equitorial Arranges $100,000 Loan __________________________________________________________
Equitorial Exploration Corp.
Suite 1818, 701 West Georgia St.
Vancouver, BC V7Y 1C6 www.equitorial.ca
EQUITORIAL ARRANGES $100,000 LOAN __________________________________________________________
October 6, 2014 TSX Venture Exchange Trading Symbol: EXX
Vancouver, B.C. – Equitorial Exploration Corp. (the “Company” or “Equitorial”) announces that it obtained a loan in the amount of $100,000 (the “Loan”) from Devanha Holdings Ltd. (the “Lender”) on September 3rd, 2014. The Loan is due a year from the date of advance of the Loan (the “Maturity Date”), and carries an interest rate of 8% per annum, calculated annually in arrears and payable on the Maturity Date.
As additional consideration of the Loan being granted, subject to TSX Venture Exchange approval, the Company has agreed to issue the Lender bonus warrants equal to 40% of the principal amount of the Loan. The Company will issue the Lender in aggregate 275,862 non-transferable bonus warrants (the “Warrants”), each exercisable to acquire one common share of the Company at a price of $0.25. The Warrants will expire on the Maturity Date.
The Company is using the proceeds of the Loan to for working capital and general corporate purposes.
On behalf of the Board of Directors
EQUITORIAL EXPLORATION CORP.
“Dean Pekeski”
Dean Pekeski, President and Director
For further information, please contact either Dean Pekeski or Patrick Power at 604-689-1799.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.