Calgary-based Manson Creek Resources (TSE) has agreed to lend Athlone Resources (VSE) $150,000, secured by a convertible debenture, which will carry an interest rate of 10% per annum and have a 5-year term. The debenture will be convertible into common shares.
The loan has yet to be approved by regulators. Athlone has been pursuing properties in southern Venezuela. Manson and Athlone have agreed to acquire jointly other properties.
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