Global Green Obtains Financing from Royal Bank
June 19 2013 - 9:30AM
Access Wire
NEWS RELEASE
OTCBB: GGXCF
TSX.V: GGX
June
19, 2013 - Global Green Matrix Corporation ("GGX" or the "Company")
- TSX Venture: Global Green announces that its wholly owned subsidiary 1503826
Alberta Ltd operating as Intercept Rentals has obtained an
Equipment Lease credit facility in the total sum of $2.0 million
pursuant to a Royal Bank of Canada commitment letter with the
Company dated May 13, 2013.
Global
Green has agreed to provide a General Security Agreement, a
specific charge on equipment with a value greater than $1.0
million, lease agreements with a specific charge on leased
equipment and a Corporate Guarantee from Global Green. The interest
rate for the equipment lease line of credit is stated to be in the
range of 5% to 6%.
President
and CEO, Randy Hayward states: "We are pleased that the Royal Bank
of Canada is supporting our continued growth as an oilfield service
business. This loan, along with the Company's other fund raising
efforts, will enable GGX to fulfill its goal of having a total of
six heating units fully operational by October of this
year."
About
Global Green Matrix Corp.
(www.globalgreenmatrix.com)Global Green Matrix Corp is an Oilfield Services
Firm primarily focused on servicing oil and gas companies and their
fracking operations. Through its wholly owned subsidiary, Intercept
Rentals, the Company currently owns and operates one truck and one
trailer mounted water-heating unit, called "Big Heat." Global Green
rents these units to various oil and gas companies that require
heated water for their fracking operations. The Company has plans
to add an additional four heating units within the next few
months.
ABOUT
INTERCEPT RENTALS:
(www.interceptrentals.com)Intercept Rentals is a
registered trade name of 1503866 Alberta Ltd., a wholly owned
subsidiary of Global Green Matrix Corp. The subsidiary company has
obtained the exclusive right to own and operate a new patent
pending technology that provides a highly efficient and safe method
of heating water used by oil companies in their fracking
operations.
For further
information visit our website at www.globalgreenmatrix.com, email
at info@globalgreenmatrix.com or
contact:
Global Green
Matrix Corp.
Randy Hayward, President
Phone: 250-247-8689 or
604-687-8855
Email: stan.buchalter@buchalterconsulting.ca
Investor Relations
and Communications
Buchalter Consulting
Toll free 1 866 631 6537
Fax: 604-628-5001
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 News Release
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