TORONTO, April 16, 2018 (GLOBE NEWSWIRE) -- Aylen Capital Inc. (the “Company”) (CSE:AYL) announced today that it has arranged a line of credit (LOC) of $50,000 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. The transaction was negotiated and approved on behalf of the Company by a special committee of independent directors.
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.
For further information:
John Pennal
President and Chief Executive Officer
Aylen Capital Inc.
(416) 956-4926