News about United Protection Security Group Inc. (TSX-V: UZZ)
EDMONTON - December 9, 2011 (InvestorIdeas.com Newswire) - F.V.Ramsoondar, Chief Executive Officer of United Protection Security Group Inc. ("UPSG" or the "Company"), (TSX-V:UZZ) is pleased to announce that pursuant to a press release dated October 24, 2011 , the Company has now completed its new receivable financing of up to $4.5M USD with a New York based International Lender specialized in asset-based lending.
The new facility has now replaced a $3,000,000 operating loan previously provided by a Canadian chartered bank. The Company has concurrently issued 8,000,000 common shares at $0.05 per share to Mr. F.V. Ramsoondar , CEO, in compensation for Mr. Ramsoondar giving his personal guarantee of the validity of the financial information that will be provided to the New York based financing company on an on-going basis.
- Published: 08 December 2011
- Written by Investor Ideas