Canadian aquaculture firm AgriMarine announced today it has closed the convertible loan worth USD 10 million (EUR 7.4 million) with Dundee Agricultural Corp., as previously announced on 12 September, 2013.
The loan matures on 19 September, 2014 and bears interest at 12.68 percent per annum, payable upon maturity.
The company is using proceeds from the loan for completing the acquisition of British Columbia-based steelhead trout producer West Coast Fishculture Ltd., deploying the company’s fish-rearing tanks, and supporting Benxi AgriMarine Industries in China. The money will also be used for various other general and administrative expenses.
The loan matures on 19 September, 2014 and bears interest at 12.68 percent per annum, payable upon maturity.
The company is using proceeds from the loan for completing the acquisition of British Columbia-based steelhead trout producer West Coast Fishculture Ltd., deploying the company’s fish-rearing tanks, and supporting Benxi AgriMarine Industries in China. The money will also be used for various other general and administrative expenses.
