Le Château Inc. (TSXV:CTU) announced that it has entered into an agreement for a private placement of an unsecured loan for gross proceeds of CAD 1,000,000 on February 7, 2019. The transaction will include participation from Jane Silverstone, chairman and Chief Executive Officer of the company and a director and a significant investor of the company. The loan carries a variable rate of interest equal to the lesser of the prime rate of the Royal Bank of Canada multiplied by two and 7.5% per annum and would mature on September 30, 2020. The transaction has been approved by all of the disinterested directors of the company and to obtain minority shareholder approval.