Ceapro Renews Equipment Financing
EDMONTON, ALBERTA -- (Marketwire) -- 12/18/12 -- Ceapro Inc. (TSX VENTURE: CZO) ("Ceapro" or the Company") is pleased to announce that it has executed a letter of renewal with Agriculture Financial Services Corporation (AFSC) to renew its equipment loan for a further term of 5 years at an interest rate of 3.71%. At the end of this 5 year term the loan will be completely paid off. The renewal of this loan will return this loan to a long term liability from a current liability and thereby tremendously improve Ceapro's working capital position.
"We are very pleased with the demonstration of confidence and support our long-term financial partner AFSC has again shown to Ceapro", said Gilles Gagnon, President and CEO of Ceapro. "The participation and support that AFSC has shown to innovative and value added agri-companies like Ceapro is truly appreciated and allows us to continue to do what we do best- develop and commercialize innovative technologies and products", added Mr. Gagnon.
About Ceapro Inc.
Ceapro Inc. is a Canadian growth-stage biotechnology company. Primary business activities relate to the development and commercialization of active ingredients for personal care and cosmetic industries using proprietary technology and natural, renewable resources. To learn more about Ceapro, visit www.ceapro.com.
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.
Contacts: Ceapro Inc. Branko Jankovic Chief Financial Officer (780) 917-8376 (Edmonton) email@example.com www.ceapro.com
Source: Ceapro Inc.
Released December 18, 2012