The Prospector News

Kaizen Discovery Receives C$2.0 Million from Majority Shareholder HPX TechCo as a Partial Drawdown of Loan Facility

You have opened a direct link to the current edition PDF

Open PDF Close
Uncategorized

Share this news article

Kaizen Discovery Receives C$2.0 Million from Majority Shareholder HPX TechCo as a Partial Drawdown of Loan Facility

 

 

 

 

 

Kaizen Discovery Inc. (TSX-V:KZD) announced today that it has received C$2.0 million from its majority shareholder, HPX TechCo Inc., as a partial drawdown of a C$5.0 million unsecured, revolving loan facility from HPX.

 

 

The C$5.0 million loan facility was established in 2013 as part of the reverse take-over transaction with HPX. Kaizen now has made three drawdowns on the loan facility, totalling approximately C$3.7 million. A balance of approximately C$1.3 million remains available to be drawn by Kaizen in the future.

 

 

Details of the HPX loan facility are summarized in Kaizen’s December 22, 2015 news release available at www.kaizendiscovery.com or www.sedar.com.

 

 

About Kaizen Discovery

 

 

Kaizen is a Canadian mineral exploration and development company. Kaizen has a collaboration agreement with ITOCHU Corporation of Japan and has access to HPX TechCo’s proprietary, geophysical, Typhoon technology under a dedicated services agreement. Kaizen’s long-term growth strategy is to work with Japanese entities to identify, explore and develop high-quality mineral projects that have the potential to produce and deliver minerals to Japan’s industrial sector.

 

Posted April 6, 2016

Share this news article

MORE or "UNCATEGORIZED"


Brunswick Exploration Drills 93.45 Meters at 1.55% Li2O at MR-6

Brunswick Exploration Inc. (TSX-V: BRW) (OTCQB: BRWXF) is pleased... READ MORE

May 8, 2024

First Phosphate Enters into LOI for Rapidwall Manufacturing Plant to Support Housing for Rural and Indigenous Communities in Canada and the United States

First Phosphate Corp. (CSE: PHOS) (OTC: FRSPF) (FSE: KD0) is plea... READ MORE

May 8, 2024

GoGold Releases Q2 2024 Financial Results and Announces Changes to Board of Directors

GoGold Resources Inc. (TSX: GGD) (OTCQX: GLGDF) is pleased to an... READ MORE

May 8, 2024

Cassiar Gold Closes $6.8 Million Private Placement

Cassiar Gold Corp. (TSX-V: GLDC) (OTCQX: CGLCF) is pleased to ann... READ MORE

May 8, 2024

SIGMA LITHIUM INCREASES PROVEN & PROBABLE OPEN PIT MINERAL RESERVE BY 40% TO 77Mt EXTENDING OPERATIONS TO 25 YEARS

HIGHLIGHTS Sigma Lithium is increasing its Proven and Probable Re... READ MORE

May 8, 2024

Copyright 2024 The Prospector News