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Global Hunter Corp. has arranged a $2,500,000 loan to advance its Corona de Cobre project in Chile. The proceeds from the loan will be used by Global Hunter to fund project expenses and for general working capital purposes.
The loan will have a two year term and loan principal will be convertible at the option of the lender in whole or in part into units (“Principal Units”) of Global Hunter until eighteen months from the date of the loan advance at the price of $0.06 per Principal Unit. Each Principal Unit will be comprised of one common share and one-half of a non-transferable warrant. Each whole warrant will be exercisable to purchase one additional common share for $0.10 at any time until eighteen months from the date of the loan advance. The loan will bear interest at the rate of 12% per annum, payable on maturity, and accrued and unpaid interest will be convertible at the option of the lender in whole or in part into units (“Interest Units”) of Global Hunter until eighteen months from the date of the loan advance at the price of $0.05 per Interest Unit. Each Interest Unit will be comprised of one common share and one-half of a non-transferable warrant. Each whole warrant will be exercisable to purchase one additional common share for $0.075 at any time until eighteen months from the date of the loan advance.
The lender is at arm’s length from Global Hunter and will not become an insider as a result of any conversion of principal and interest. The loan principal and accrued interest will be secured by a pledge of the shares of Global Hunter’s subsidiary, Global Hunter Chile Ltda., and may be repaid without penalty or bonus on 30 day’s notice. All shares issued on any conversion of loan principal or interest will be subject to a four month hold period from the date of advance of loan proceeds. A finder’s fee equal to 6% of the loan proceeds will be paid in cash as permitted by policies of the TSX Venture Exchange anACd applicable securities laws. The loan is subject to acceptance by the TSX Venture Exchange.
Crown Equity Holdings Inc. (OTCPK:CRWE)
Crown Equity Holdings Inc. (OTCBB:CRWE) (http://www.crownequityholdings.com) announced today that its subsidiary company, Crown Tele Services Inc. (http://www.crownteleservices.com ) is still moving forward after dissolving its joint venture with Communication Expert Corporation and will gradually start rolling out its internet based voice and video service IP-PBX solutions next year.
The cornerstone of Crown Tele Services Inc. strategy is to meet the highest standards when it comes to delivering VoIP (Voice over Internet Protocol) communication solutions specifically designed to meet the market needs.
Commenting on the venture, Kenneth Bosket, president said, “We are still excited with this opportunity to expand our footprint in this valuable market. The demand for internet-based voice and video services is growing exponentially and our new subsidiary Crown Tele Services Inc. has launched its new website and intends to emerge as a service provider of choice.”
According to ABI Research, the latest global business VoIP services forecasts show that the value of the overall market, which includes VoIP integrated access, SIP trunking, hosted IP-PBX/IP Centrex and managed IP-PBX services, is set to double over the next five years, to exceed $20 billion by 2015.
Crown Equity Holdings Inc. (OTCBB:CRWE) reported its financial results for the nine month period ending September 30, 2010. Revenue for the nine months totaled $1,073,383 compared to $418,959 during 2009. The Company incurred an operating loss of $54,527 for the nine months ending September 30, 2010 compared to an operating loss of $36,923 during the same period in 2009. Net loss of $343,049 for the nine months ending September 30, 2010 compared to a net loss of $29,379 for the same period in 2009. The net loss in 2010 was attributed mostly to an unrealized loss of $307,544 on securities held by the Company.
“Our continued progress in operations including an operating profit of $7,251 during the last quarter shows a continued growth in our business,” commented Kenneth Bosket, President and CEO of Crown Equity Holdings Inc. “Not only do our financial results show strong growth during this year but our continued investment in infrastructure will support our future growth,” stated Bosket.
Crown Equity Holdings Inc. is extending its internet footprint internationally to include the following countries; Argentina, Brazil, Canada, China, France, Germany, Hong Kong, India, Indonesia, Italy, Japan, Korea, Malaysia, Mexico, New Zealand, Pakistan, Russia, Singapore, Spain, South Africa, Taiwan, United Arab Emirates and United Kingdom.
First Pactrust Bancorp Inc. (Nasdaq:FPTB) announced on Dec 15, 2010 that it has redeemed the $19.3 million of series A preferred stock issued to the U.S. Treasury under the “TARP” Troubled Asset Relief Program’s Capital Purchase Program. As part of the redemption of the preferred stock, First PacTrust Bancorp also paid accrued dividends of approximately $88,000, bringing the total dividends paid to the U.S. Treasury and U.S. taxpayers to about $1,994,000 since the preferred stock was issued on November 21, 2008. The U.S. Treasury continues to hold warrants to purchase approximately 280,795 shares of First PacTrust Bancorp common stock at an exercise price of $10.31 per share.
First PacTrust Bancorp, Inc. operates as the holding company for the Pacific Trust Bank, which provides various financial services primarily in San Diego and Riverside Counties, California. The company offers various deposit accounts, including savings accounts, money market deposits, certificate accounts, and checking accounts.
Furiex Pharmaceuticals, Inc. (Nasdaq:FURX) announced on Dec 10, 2010 that Stephen W. Kaldor, Ph.D. has joined its board of directors, bringing over 20 years of biopharmaceutical experience. “Dr. Kaldor deepens the strength of our board by bringing years of experience successfully building biotechnology companies,” said June Almenoff M.D., Ph.D., president and chief medical officer of Furiex Pharmaceuticals. “His combined business and science background will provide us with valuable insight as we continue to mature our pipeline of therapeutic candidates and build our business.”
Furiex Pharmaceuticals, Inc., a drug development collaboration company, engages in the compound partnering business in the United States and Europe. It collaborates with pharmaceutical and biotechnology companies to increase the value of their early stage drug candidates.
General Communication Inc. (Nasdaq:GNCMA) announced on Dec 16, 2010 that its Board of Directors approved a $100 million increase to its stock repurchase program. The action, which occurred at a scheduled board meeting, increases the program's authorization by $100 million and provides for quarterly increases of $5 million. Including existing authorizations, GCI may purchase up to $127.8 million worth of its outstanding shares of common stock in the open market or in privately negotiated transactions.
General Communication, Inc. provides communication services to residential and business customers under the GCI, Alaska Digital, and Alaska Wireless brand names in Alaska. The company’s Consumer segment provides local/long distance voice services; video services and products, including cable, high-definition television, digital video recorder, premium channel programming, video on demand, and pay-per-view programming services; Internet access; and fixed and mobile wireless voice and data services.
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