[ACCESSWIRE]
TORONTO, ON / ACCESSWIRE / September 7, 2016 / Gunpowder Capital Corp., (CSE: GPC), (FSE: YS6N) (the "Corporation") announced today that it has entered into a secured promissory note between itself and Franchise Holdings International, Inc., and its fully owned subsidiary Truxmart Inc., for the amount of Thirty-Nine Thousand Dollars ($39,000.00) USD.
The purpose of the loan is for inventory financing. The loan bears interest at a rate of eighteen percent ("18%") per annum and is due in 24 months. Gunpowder has previously disclosed that it is working with Franchise Holdings International Inc., to list their common shares on to the Canadian Securities Exchange. In that regard, Gunpowder plans on being in a position to submit the listing application for Franchise Holdings International Inc. within the next 7 business days.
For entering into the secured promissory note with Truxmart Inc., Gunpowder Capital Corp., will also immediately receive Fifty Thousand ("50,000") shares of common stock of Franchise Holdings International, Inc. The shares issued are subject to a 180 day hold period pursuant to applicable securities legislation.
Mr. Haber stated: "This additional loan to Truxmart Inc., further demonstrates our commitment to work with our go public clients and help them to grow and increase shareholder value."
For further information please contact:
Mr. Frank Kordy
Interim CEO & Director
Gunpowder Capital Corp.
T: (647) 466-4037
E: [email protected]
Mr. Paul Haber
CFO
Gunpowder Capital Corp.
T: (416) 363-3833
E: [email protected]
Forward-Looking Statements
Information set forth in this news release may involve forward-looking statements under applicable securities laws. The forward-looking statements contained herein are expressly qualified in their entirety by this cautionary statement. The forward-looking statements included in this document are made as of the date of this document and the Corporation disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities legislation. Although Management believes that the expectations represented in such forward-looking statements are reasonable, there can be no assurance that such expectations will prove to be correct. This news release does not constitute an offer to sell or solicitation of an offer to buy any of the securities described herein and accordingly undue reliance should not be put on such. Neither CSE nor its Regulation Services Provider (as that term is defined in the policies of the CSE accepts responsibility for the adequacy or accuracy of this release.
SOURCE: Gunpowder Capital Corp.
