Alberton issued a Promissory Note in connection with Global Nature as working capital
Updated: Dec 5, 2019
Alberton Acquisition Corporation (Nasdaq: ALAC, the "Company" or "Alberton") today announced that, on December 3, 2019, the Company, upon receipt of the principal, issued an unsecured promissory note in the aggregate principal amount of $500,000 (the "Note") to Global Nature Investment Holdings Limited ("Global Nature"), its registered assignees or successor in interest (the "Payee"). The Note was issued in connection with a potential business combination with Global Nature as working capital of Alberton.
The Note is non-interest bearing and is payable on the earlier date (the "Maturity Date") of (i) that Alberton consummates its initial business combination with Global Nature or another qualified target company (a "Qualified Business Combination"), and (ii) expiry of the term of Alberton, which is now January 24, 2020 and extendable for additional three months at Alberton's discretion subject to certain conditions. The principal balance may be prepaid prior to the Maturity Date without penalty.
About Global Nature
Global Nature is a wholly owned subsidiary of CITIC Capital, an investment advisory firm that manages over US$26 billion of capital through its multi-asset class platform. Global Nature holds agri-related assets.