EDMONTON, Sept. 4 /CNW/ - Granville Pacific Capital Corporation
("Granville") (TSX Venture: GE) announces that the Company has entered into an
arrangement to borrow up to $500,000 from H&H Total Care Services, a company
controlled by a director and shareholder (Hendrik Van Ryk Sr) of the Company.
The Company has agreed to borrow up to $500,000 unsecured loan bearing
interest at 14% per annum due September 30, 2010 from H&H Total Care Services
to assist with working capital needs.
Hendrik Van Ryk Jr, CEO comments, "This transaction is necessary for the
future of the Company and to position the Company to ensure strong operations
and cash flows into the future."
This transaction is subject to the approval of the TSX Venture Exchange.
Granville is involved in the business of the acquisition and operation of
senior citizens' lodging and care facilities and mental health facilities.
The TSX Venture Exchange does not accept responsibility for the adequacy
or accuracy of this release.
For further information:
For further information: contact the following officer of Granville:
Andre Van Ryk, Chief Financial Officer, Telephone: (604) 597-7931, Facsimile: