OAKVILLE, ON, Jan. 30 /CNW/ - Highground Capital Corp. (TSXV - HCC) is
pleased to announce that a $5 million (Cdn) secured subordinate debt
investment has been approved by the Company's Board of Directors. The investee
company is a privately held Canadian based real estate investment firm with
expertise in multi-unit residential specialty housing. The investee company
has been operating in both Canada and the United States since 1989.
Terms of the Investment
The investment has an initial term of 12 months (which may be extended
for an additional two 6 month periods at the option of the (borrower)) and it
carries an initial interest rate of 14% per annum which applies to the
investment commencing upon the date of funding. In the event that the loan is
extended, the interest rate increases to 16% per annum. It is anticipated that
the formal documentation in respect of this investment will be entered into on
or about February 4th, 2008.
About Highground Capital Corp.
Highground Capital Corp. invests in strategic growth opportunities that
meet critical long term community needs in the infrastructure and renewable
power sectors. Highground Capital Corporation's debt and equity investments
are typically supported by assets which generate strong recurring revenue
streams. The common shares of Highground Capital Corp. trade on the TSX
Venture Exchange under the trading symbol HCC.
This press release contains forward-looking statements. Readers are
cautioned not to place undue reliance on these forward-looking statements.
Actual results may differ materially from those indicated by these
forward-looking statements as a result of risks and uncertainties impacting
the company's business including the ability of the company to find suitable
investments, to attract and retain qualified professionals, general economic
conditions; and other risks detailed from time to time in the Company's
The TSX Venture Exchange does not accept responsibility for the adequacy
or accuracy of this release.
For further information:
For further information: Jeff Norman, President, (905) 465-4547 or Greg
Owttrim, Executive Vice President, (905) 465-4535