GC-Global Capital Corp. and Advantagewon Oil Corp. Enter into $257,500 Bridge Loan Agreement
Toronto, Ontario--(Newsfile Corp. - January 16, 2014) - GC-Global Capital Corp. (TSXV: GDE.A) ("Global Capital") and Advantagewon Oil Corp. ("AOC") are pleased to announce the completion of a 6 month secured bridge loan (the "Loan") in the principal amount of $257,500. The net proceeds of the Loan shall be used for the drilling program on Advantagewon Oil’s Saratoga oil property in the state of Texas.
The Loan matures on July 16, 2014 and bears interest at 2 per cent per month, payable monthly. As consideration for providing the Loan, Global Capital will be issued a 5% equity position in Advantagewon Oil in the form of common shares.
Advantagewon Oil Corp. was originally formed to take advantage of opportunities in the Texas oil patch. Management’s focus is to build AOC into a substantial dividend paying company focused on smaller oil plays in Texas.
About GC-Global Capital Corp.
Global Capital is a merchant bank, which provides bridge loan services (asset back/collateralized financing), to companies across many industries such as oil & gas, mining, real estate, manufacturing, retail, financial services, technology and biotechnology. For further information, please contact Jason G. Ewart at (416) 488-7760 or visit Global Capital's website at www.gcglobalcapital.ca.
About Advantagewon Oil Corp.
Advantagewon Oil Corp. is a Texas based oil production company. For further information, please contact Paul Haber, the Executive Chairman and Interim Chief Executive Officer, at firstname.lastname@example.org.
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