Consolidated Envirowaste-CWD.V Message Board

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Gold/Mining/Energy : Consolidated Envirowaste-CWD.V

CWD 1.380

+10.4%

3:59 PM EST

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To: D.W. who wrote (29)	1/5/1999 8:10:00 PM
From: D.W.	Read Replies (1) of 34

Consolidated Envirowaste Industries Inc - Cons Envirowaste negotiates $414,000 loan Consolidated Envirowaste Industries Inc CWD Shares issued 9,413,799 1999-01-05 close $0.45 Tuesday Jan 5 1999 Mr. Douglas Halward reports The company has negotiated a loan agreement with a director and senior officer of the company whereby the company will borrow $414,000. The loan principal is repayable on demand. The loan will bear interest at Royal Bank's prime rate plus 3.5 per cent per year, payable monthly. At the option of the lender, the company will put in place security in favour of the lender in the form of a charge on the assets of the company and the guarantee of its subsidiary, Answer Garden Products Ltd. The Answer Garden guarantee will be supported by a charge on its assets, including a mortgage over its Matsqui,B.C. property. The loan proceeds will be used to meet the company's near-term working capital requirements. The company is exploring various options to meet its long-term comprehensive credit requirements. Any new financing plan will include the payout or refinancing of the new demand loan.

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