Chemaphor Inc. Issues Shares in Satisfaction of Principal and Interest
06 Enero 2011 - 3:00PM
Marketwired
Chemaphor Inc. (TSX VENTURE: CFR), today announced that it will
issue a total of 4,721,132 common shares in satisfaction of
$380,000 in principal and $24,903 in interest accrued to December
31, 2010 on convertible debentures issued by Chemaphor on April 30,
2009. This issuance will satisfy Chemaphor's obligations under
those debentures and result in their cancellation.
Pursuant to the terms of the debentures, Chemaphor had the
option to satisfy principal payments by delivery common shares
based on 95% of the market price of the common shares on the TSX
Venture Exchange at the time of settlement and to satisfy interest
payments by delivery of common shares based on the market price of
the common shares on the TSX Venture Exchange at the time of
settlement. The market price per common share determined in
accordance with the terms of the debentures was $0.09, being the
last closing price of the Chemaphor common shares on the TSX
Venture Exchange prior to December 31, 2010.
About Chemaphor
Chemaphor, a wellness company, is committed to developing and
delivering products to humans and animals to assist in optimizing
health and daily quality of life. Chemaphor is advancing product
candidates for the food animal market, companion animal market and
various, potential human applications. More information can be
found at www.chemaphor.com.
Neither 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. The issuance of shares for debt remains
subject to TSX Venture Exchange approval.
Contacts: Chemaphor Inc. Graham Burton 613-990-0969
g.burton@chemaphor.com www.chemaphor.com Investor Relations:
Evolution Group Inc. Sylvain Archambault President 1-866-703-4887
s.archambault@evolutiongrp.com
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