MONTREAL, Aug. 8 /CNW Telbec/ - Eloda Corporation ("Eloda") (TSX-V: ELA)
announces that it has issued a new promissory note of $51,000 in respect of
the loan agreement of up to $500,000 announced on June 26, 2009. The
promissory notes bear interest at the annual rate of 12% and shall become due
and payable upon demand by the holder. The promissory notes are not
convertible into securities of Eloda. Additional advances under the loan
agreement are at the sole option of the lenders.
The proceeds will mainly be used to finance Eloda's operations, fund the
on-going growth of its business and will be used for working capital purposes.
The loan agreement constitutes a related party transaction for the
purposes of Multilateral Instrument 61-101 Protection of Minority Holders in
Special Transactions as disclosed in Eloda's press release dated June 26,
About Eloda Corporation
Eloda Corporation (TSX-V: ELA) is a third party providing a suite of
innovative, effective and user-friendly measurement and validation tools for
the advertising industry. The company is headquartered in Montréal, with an
office in New York City. For more information, visit www.eloda.com.
Neither TSX Venture Exchange nor its Regulation services provider (as
that term is defined in the policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this release.
For further information:
For further information: L. Derek Lindsay, VP and CFO, Eloda
Corporation, (514) 842-1513, FAX: (514) 842-4588, firstname.lastname@example.org;
Christiane Allaire, Director Marcom, Eloda Corporation, (514) 842-1513, FAX:
(514) 842-4588, email@example.com