03:37 PM EST - CRS Electronics Inc. : said that the Southern Ontario Development Program has granted an interest free loan to the company to a maximum amount of $825,595. A maximum principal of $825,595 may be drawn on the loan facility. The specific terms of the loan agreement have not been finalized. Generally the Southern Ontario Development Program funding is based on 50% of certain approved capital expenditures and 75% of certain marketing costs, research and development costs, and legal cost to file patents. The loans are non-interest bearing with a repayment term of five years. CRS Electronics Inc.
shares V.LED are trading up $0.02 at $0.51.
