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FINWIRES

Orecap Invest Arranges an Interest Free, Unsecured Loan From its Chief Executive

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Orecap Invest (OCI.V) on Friday said it reached an agreement with a non-arm's length lender for a $833,333 loan.

The company will use the funds for general corporate purposes.

The loan is payable on demand with a term of six months, unsecured and non-interest bearing, though any default will raise the interest rate to 10% annually.

The lender is a company owned and controlled by Stephen Stewart, Orecap's chief executive..

The company's shares were last seen up $0.005 to $0.135 on the TSX Venture Exchange.

Price: $0.14, Change: $+0.01, Percent Change: +3.85%

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