Pan Pacific Aggregates, the British Columbia-based aggregates company, has completed the remortgaging of its Quadling Quarry in the Fraser Valley Regional District, replacing its existing loan that was due to expire on June 30th.
The firm has agreed the terms of a CAN$1.67m with a 24-month repayment period which will be used to fund the old mortgage.
The new loan has an interest rate of 11.5%, compared to 13% on the previous one.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Chairman Lynda Chase-Gardener said: "Following the successful placing last month, the remortgaging of our flagship quarry removes further uncertainty and puts PPA finances on a stronger and longer term footing."
The share price rose 11.11% to 2.50p.
NR
-
Is the AI boom another dotcom bubble?25 years on from the dotcom bubble bursting, is it time for investors to consider the sustainability of the AI boom in the stock market?
-
What is the S&P 500?The S&P 500 is one of the world’s most popular stock market indices and has almost tripled in value over the last decade. But what is the S&P 500, and which companies does it contain?
