ARISE Technologies Closes Bridge Loan...

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ARISE Technologies Closes Bridge Loan...

posted on May 11, 2011 12:42PM

... and Provides Update on Commerzbank AG Discussions

Press Release Source: ARISE Technologies Corporation On Wednesday May 11, 2011, 12:21 pm

WATERLOO, ON, May 11 /CNW/ - ARISE Technologies Corporation (TSX: APV and Frankfurt: A3T), ("ARISE" or "the Company"), a leader in high-performance, high quality, cost-effective solar technology, today announced that on May 6, 2011, the Company closed a US$750,000 bridge loan ("Loan") from Haverstock Master Fund, Ltd. (the "Lender"). The purpose of the Loan is to provide working capital bridge financing to the Company. The Loan matures on September 30, 2011 and bears interest at a rate of 10% per annum which rate increases by 1% for each month the Loan is outstanding.

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