BEACN Wizardry & Magic Inc. Launches Loan Program

BEACN Wizardry & Magic Inc. (TSX-V:BECN) has announced the establishment of a shipment-triggered loan program. The first series under this Loan Program has concluded, securing $338,000 with Athlone Ltd. and Huang Quian 2008 Revocable Trust as lenders. This initiative aims to provide non-dilutive financing, enhancing production and shipment of finished goods.

Monies under each series bear a 10% premium and will be repaid through product sales. Each borrowing series matures up to twelve months post final shipment. The company can repay earlier without penalty, and there are no mandatory draw amounts or standby fees.

The Loan Program is secured by a general agreement covering most of BEACN's assets. Both lenders are considered related parties, making this a "related party transaction." Exemptions from MI 61-101 regulations apply, avoiding formal valuation and minority shareholder approval.