General European Strategic Investments Inc. Successfully Extends Repayment Term of Existing Loans
Las Vegas, Nevada--(Newsfile Corp. - August 3, 2022) - GENERAL EUROPEAN STRATEGIC INVESTMENTS INC. (OTC Pink: GESI) (the "Company or GESI") is pleased to announce the outcome of successful renegotiations with its significant loan providers.
- An aggregate total of $USD 7,854,153.81 of loans, which was previously classified as current and due on demand has now been extended to mature on June 30th 2025 with an average effective interest rate of 8%.
- Interest to accrue quarterly and be paid as a single balloon payment at maturity on June 30th 2025 along with the principal.
- As a result, the Company's working capital deficit is largely eliminated.
Wolfgang Rauball, Director & CEO of GESI, said, "We are extremely pleased to have successfully completed these negotiations with our loan holders. The direct impact on the Company's balance sheet of effectively removing our working capital deficit will greatly assist us in our ongoing discussions with various funding sources and paves the way for an eventual application for an up-listing of the Company's shares."
This release includes "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934. Such statements include any that may predict, forecast, indicate, or imply future results, performance or achievements, and may contain the words "estimate", "project", "intend", "forecast", "anticipate", "plan", "planning", "expect", "believe", "likely", "should", "could", "would", "may" or similar words or expressions. Such statements are not guarantees of future performance and are subject to risks and uncertainties that could cause the Company's actual results and financial position to differ materially from those in such statements, which involve risks and uncertainties, including those relating to the Company's ability to grow. Actual results may differ materially from those predicted and any reported should not be considered an indication of future performance. Potential risks and uncertainties include the Company's operating history and resources, together with all usual and common economic, competitive, and equity market conditions / risks.
Robert Seguin, V.P., Investor Relations
General European Strategic Investments Inc.
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