Broadview Press Inc.: Loan From Insider; Recent Market Activity
November 03 2009 - 11:36AM
Marketwired Canada
Broadview Press Inc. ("Broadview") (TSX VENTURE:BDP) announces that the company
has negotiated a loan from Jekam Holdings Ltd. in the amount of $572,000. As
Jekam is controlled by a director and significant shareholder (JoAnn McCaig),
this is an insider transaction, and as such has been approved by the exchange.
The loan shall bear interest at 5%, calculated and compounded annually.
The purpose of the loan from the perspective of Broadview is to provide
Broadview with capital to facilitate options for Broadview to consider taking
itself private by means to be considered and determined by the Board of
Directors of Broadview.
Broadview is not aware of any material developments that would explain the
recent significant increase in the company's share price and trading volumes in
the past two days of market trading. Preliminary results for the past quarter
(and to the end of October) show results somewhat below expectations.
The officer responsible for issuance of this press release and who may be
contacted for further information is Don LePan.
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