Business
Winchester Equity Corporation Announces New Loan Agreement
Toronto, Ontario--(Newsfile Corp. - October 3, 2025) - Winchester Equity Corporation. (TSXV: WEC)...
About this update from Winchester Equity Corporation
[{"type":"text","content":"Winchester Equity Corporation Announces New Loan AgreementToronto, Ontario--(Newsfile Corp. - October 3, 2025) - Winchester Equity Corporation. (TSXV: WEC) (the \"Company\") is pleased to announce, further to its press release dated September 23, 2025, that it has today entered into a new secured convertible promissory note (the \"Promissory Note\") with Selma House LLC (\"Selma\").BackgroundAs previously disclosed, the Company made a USD$1,000,000 loan to Selma, an arm's length company in the business of real estate investment and private credit, for an aggregate amount of up to USD$1,000,000 which was due to become due and payable on July 24, 2026. Following positive discussions with the management of Selma, WEC has agreed to increase the size of the loan facility to Selma to an amount of up to USD$2,000,000 which will replace the previous USD$1,000,000 promissory note which has now been cancelled.The Company accordingly confirms that is has today entered into a secured convertible promissory note of up to USD$2,000,000 with Selma which is due to become due and payable on October 2, 2026. The principal amount under the Promissory Note bears an interest rate of 10% per annum, calculated monthly. The Promissory Note is secured against all assets of Selma (which consist primarily of real estate assets and receivables) and represents the sole senior secured debt of such company. The Company has the right to convert, at any time, the outstanding principal amount of the Promissory Note into a 47.2% ownership interest in Selma.As of today's date, Selma has drawn down a total of USD$1,000,000 in principal against the Promissory Note.Regulatory ConsiderationsThe Promissory Note constitutes an Arm's Length Transactions (as such term is defined in Policy 1.1 of the TSXV). No Non-Arm's Length Parties of the Company (as such term is defined in Policy 1.1 of the TSXV) have any direct or indirect interest in, or relationship with Selma, nor are they insiders of Selma. For Further Information: Mark PajakChairman, Chief Executive Officer and DirectorTel.: 540 762 2788Email: [email protected] Statements This press release contains forward-looking statements and forward-looking information (collectively, \"forward-looking statements\") within the meaning of applicable securities laws. Any statements that are con...