Related Party Loans

Posted in 2014

 

Goldcrest announces that it has received loans totalling GBP87,500 from related parties (“Loans”), the proceeds of which are to be used for working capital purposes.

 

The Loans have been provided variously by Gavin Burnell (GBP27,500), Woodland Capital Limited (GBP15,000), Hot Rocks Investments plc (GBP15,000) and Starvest plc (GBP30,000).

 

Gavin Burnell is a director and shareholder of the Company and of both Woodland Capital Limited and Hot Rocks Investments plc.

 

John Watkins is a director and shareholder of the Company and of Starvest plc.

 

Each of the Loans is unsecured and bears interest at 20% per annum; there are no fixed terms for repayment.

 

The Directors of the Issuer accept responsibility for this announcement.

 

--ENDS--

 

Goldcrest Resources plc

Frederick Bell,

Managing Director

Tel: 0755 4872 794

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John Watkins,

Chairman

Tel: 01483 771992

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Cairn Financial Advisers LLP

Avi Robinson / Jo Turner

Tel: 020 7148 7900