Keek Announces Proposed Restructuring of Secured Debt
TORONTO, ON--(October 14, 2015) - Keek Inc. (TSX VENTURE: KEK) (KEEKF) a leading global mobile video social network featuring a unique 36 second video format, with over 74 million registered users, today announced that Riavera Corp. (a company controlled by Mark Itwaru and a parent company to Personas.com Corporation) ("Riavera") has entered into an agreement with Pinetree Income Partnership ("Pinetree") to purchase Pinetree's secured notes (the "Pinetree Notes"). Pinetree purchased $3,000,000 principal amount of 12% secured promissory notes of Keek on November 5, 2014 (see press release dated November 6, 2014). The Pinetree Notes represent 55% of the principal amount of all secured notes ("Notes") outstanding in Keek. The Pinetree Notes are due November 5, 2015. Keek understands the agreement between Riavera and Pinetree is scheduled to close on October 23, 2015.
- Published: 14 October 2015
- Written by Editor