EROS Resources Announces Loan to MAS Gold
News Release - November 3rd, 2020
Vancouver, British Columbia (November 3, 2020) – EROS Resources Corp. (“EROS” or the “Company”) (TSXV: ERC) is pleased to announce that it has entered into an unsecured loan agreement (the “Loan Agreement”) to loan up to a maximum amount of $500,000 (the “Loan”) to MAS Gold Corp. (the “Borrower”).
The principal amount of the Loan outstanding under the Loan Agreement shall bear interest at a rate of 5.0% per annum and the Loan shall mature on the earlier of: (i) demand by EROS; or (ii) October 30, 2021. The Loan is to be used by the Borrower to fund its operations and for general and administrative expenses. Mr. Ronald Netolitzky, a director and the President and CEO of both EROS and the Borrower, abstained from voting on the Loan in his capacity as a director of the Company. The Loan Agreement is subject to regulatory approvals.
Eros Resources Corp. is a Canadian public company listed on the Toronto Venture Exchange. The Company’s business objective is the identification, acquisition and exploration of advanced-stage projects with a North American focus. In addition, the Company plans to make strategic investments with a global focus on a diverse commodity base. EROS managements’ expertise supports this strategy.
For further information, please contact:
EROS Resources Corp.
President and Chief Executive Officer
Forward Looking Statements
This release contains forward-looking statements. All statements, other than statements of historical fact that address activities, events or developments that we believe, expect or anticipate will or may occur in the future are forward-looking statements. These forward-looking statements reflect our current expectations or beliefs based on information currently available to us. Forward-looking statements are subject to a number of risks and uncertainties that may cause our actual results to differ materially from those discussed in the forward-looking statements and, even if such actual results are realized or substantially realized, there can be no assurance that they will have the expected consequences to, or effects on, us. Any forward-looking statement speaks only as of the date on which it is made and, except as may be required by applicable securities laws, we disclaim any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise. Although we believe that the assumptions inherent in the forward-looking statements are reasonable, forward-looking statements are not guarantees of future performance and, accordingly, undue reliance should not be put on such statements due to their inherent uncertainty.
Neither the 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.
VP Corporate Development