Business & Finance
Business and Finance
Business and Finance 
Sun, May 16, 2010
Sat, May 15, 2010
Fri, May 14, 2010
ST. JOHN'S, NEWFOUNDLAND--(Marketwire - May 14, 2010) - New Island Resources Inc. (New Island) (TSX VENTURE:NIS) of St. John's, NL announces that on April 29, 2010, the Company entered into a loan agreement with a third party in the amount of $160,000 for the purpose of maintaining the Glover Island property mining lease in good standing by payment of $154,000 due for the annual rental fees. The loan is subject to interest at 6% per annum and may be repaid on demand any time after June 21, 2010. This loan is secured by right, title and interest in and to the Glover Island property mining lease and mineral licences and is subject to the terms of a security agreement, a collateral mortgage agreement and an escrow agreement.
Statements contained in this release that are not historical facts are forward-looking statements, which involve known and unknown risks and uncertainties not under the company's control, which may cause actual results, performance or achievements of the company to be materially different from the results, performance or expectations implied by these forward-looking statements.
"Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release"