TORONTO, Aug. 13, 2018 (GLOBE NEWSWIRE) -- Aylen Capital Inc. (the “Company”) (CSE: AYL) announced today that it has obtained an increase in its line of credit (LOC) from $50,000 to $100,000 expiring December 31, 2019. The LOC is being provided by John Pennal, the President and CEO of the Company. Advances under the LOC will be repayable on demand, will bear interest at the rate of 5% per annum, will be secured against all the assets of the Company and will be convertible into common shares of the Company at the rate of $0.02 per share being the last closing price of the Company’s shares. Advances under the LOC may be used by the Company for working capital purposes.
About Aylen Capital Inc.
Aylen Capital Inc. carries on a web-based survey and data collection business based in Markham, Ontario under the name Grapevine Solutions (“Grapevine”). In addition it has a venture investment in a private company.
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President and Chief Executive Officer
Aylen Capital Inc.