QRS Capital Corp. (QRS.V) has announced they closed a loan agreement for C$500,000. This loan will bear an interest rate of 5% and will mature one year from now. As a consideration for the loan, the company issued in excess of 1.3M shares, which is a standard fee, according to TSX-policies.
We don’t like to see debt issued, so we hope QRS Capital will update the market soon about what their plans are at the Chilean projects and how they’d like to move forward in 2013.
Disclosure: The author holds a long position in QRS Capital Corp. Please see our disclaimer for current positions.
