Anthony Clark- Restructuring and Extension of US$ 1.2 Million Note

  Anthony Clark- Restructuring and Extension of US$ 1.2 Million Note

Business Wire

CALGARY, Alberta -- March 20, 2013

ANTHONY CLARK INTERNATIONAL INSURANCE BROKERS LTD. (TSX Venture Exchange:
“ACL”; OTCQX: “ACKBF”) (the “Corporation”) announces that the Company and the
U.S. lender have agreed to the terms for restructuring the U.S. $1,200,000
note payable, whereby the existing note was cancelled and restructured for
cash and a new note. Under the new promissory note, the Company will make six
principal payments of U.S. $25,000 (April 15, 2013, September 1, 2013, January
2, 2014, June 1, 2014, September 1, 2014, and January 2, 2015) with the
remaining balance maturing on June 1, 2015. Interest only payments at 12% per
annum continue on the unpaid balance until maturity of the loan. In addition,
the Company paid a US $25,000 fee to the lender related to this transaction.

The TSX Venture Exchange has not reviewed and does not accept responsibility
for the adequacy or accuracy of this release.

For further information please contact:

Anthony Clark International Insurance Brokers Ltd.
Mr. Tony Consalvo, C.E.O.
Telephone: (403) 225-5100
Email: tony.consalvo@aclarkinsurance.com

Except for the historical information contained herein, this press release
contains statements that constitute forward-looking statements, as defined in
the Private Securities Litigation Reform Act of 1995. Forward-looking
statement inherently involve risks and uncertainties that could cause actual
results to differ materially from the forward-looking statements. Factors that
may cause or contribute to such differences include, among other things, the
Corporation’s ability to close the proposed transaction. Other risks and
uncertainties include changes in business conditions and the economy in
general, changes in governmental regulations, unforeseen litigation and other
risk factors identified in the Corporation’s public filings under “Risk
Factors”. The Corporation undertakes no obligation to update these
forward-looking statements for revisions or changes after the date of this
press release.

On behalf of
ANTHONY CLARK INTERNATIONAL INSURANCE BROKERS LTD.

“Tony Consalvo”
Tony Consalvo, C.E.O.

Contact:

Anthony Clark International Insurance Brokers Ltd.
Mr. Tony Consalvo, (403) 225-5100
C.E.O.
tony.consalvo@aclarkinsurance.com
 
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