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ZYUS Life Sciences Closes Seventh Tranche of Secured Loan Financing for Gross Proceeds of C$125,000

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ZYUS Life Sciences' (ZYUS.V) wholly-owned subsidiary, ZYUS Life Sciences Inc, closed a seventh tranche of a secured loan financing, for gross proceeds of C$125,000, bringing the secured loan's total to C$1.12 million, it said late Wednesday.

The subsidiary is expected to close additional tranches under the secured loan that has a total size of up to C$2 million, the company said.

The secured loan, which will mature six months from the effective date, has an annual interest rate of 12% and is pre-payable at any time without penalty or premium, added the company.

The net proceeds of the seventh tranche are slated for general working capital purposes, ZYUS said.

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