CALGARY, Sept. 25 /CNW/ - Kelman Technologies Inc. ("Kelman") announced today that the due date of its CDN$500,000 promissory note owing to Epstein Enterprises Inc. ("EEI"), a corporation controlled by Seymour Epstein, Chairman of the Board of Directors and major shareholder of Kelman, has been extended to October 30, 2009.
On June 29th, 2009, Kelman issued to EEI a CDN$500,000 principal sum promissory note, which bears interest at a rate per annum equal to the Prime Rate of the Royal Bank of Canada in effect from time to time plus ten (10%) percent, in exchange for a cash payment from EEI of CDN$500,000 used for general working capital purposes. The promissory note was originally due on September 28, 2009. Kelman may repay all or any portion of the principal sum of the promissory note prior to the maturity date without notice, penalty, or bonus.
Kelman Technologies Inc. is a publicly traded Canadian company listed on the TSX Venture Exchange under the trading symbol "KTI". With offices in Calgary and Toronto, Canada, Denver, Houston, and Oklahoma City, United States and Tripoli, Libya, KTI services oil and gas exploration companies with a full suite of seismic processing and on-line data management and data archival services.
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.
SOURCE KELMAN TECHNOLOGIES INC.
For further information: For further information: please visit our web site at http://www.kelman.com/ or contact Mr. Rene VandenBrand, President and CEO at (281) 293-0537, or by email to email@example.com