BioSpace.com

Biotech and Pharmaceutical
News & Jobs
Search the Site
 
   
Biotechnology and Pharmaceutical Channel Medical Device and Diagnostics Channel Clinical Research Channel BioSpace Collaborative    Job Seekers:  Register | Login          Employers:  Register | Login  

NEWSLETTERS
Free Newsletters
Archive
My Subscriptions

NEWS
News by Subject
News by Disease
News by Date
PLoS
Search News
Post Your News
JoVE

CAREER NETWORK
Job Seeker Login
Most Recent Jobs
Browse Biotech Jobs
Search Jobs
Post Resume
Career Fairs
Career Resources
For Employers

HOTBEDS
Regional News
US & Canada
  Biotech Bay
  Biotech Beach
  Genetown
  Pharm Country
  BioCapital
  BioMidwest
  Bio NC
  BioForest
  Southern Pharm
  BioCanada East
  US Device
Europe
Asia

DIVERSITY

INVESTOR
Market Summary
News
IPOs

PROFILES
Company Profiles

START UPS
Companies
Events

INTELLIGENCE
Research Store

INDUSTRY EVENTS
Biotech Events
Post an Event
RESOURCES
Real Estate
Business Opportunities

 News | News By Subject | News by Disease News By Date | Search News
eNewsletter Signup
Miles
Km80.5

   

Sonomax Closes $3.05 Million Issue of 12% Secured Convertible Debentures


12/27/2012 9:48:20 AM

MONTREAL--(BUSINESS WIRE)--Sonomax Technologies Inc. (TSX-V: SHH) is pleased to announce that it has issued an aggregate principal amount of $3,051,000 of 12% secured convertible debentures to purchasers in Québec and the United States. The proceeds from the placement of the debentures have been added to Sonomax’s working capital. The debentures bear interest at the rate of 12% per annum, payable semi-annually in arrears on June 30 and December 31 in each year, commencing December 31, 2012, and will mature on February 15, 2014. The principal amount of the debentures is secured by a hypothec over all of Sonomax’s movable property and is convertible into Sonomax common shares at any time at the option of the holder, at a conversion price of $0.125 per share, until maturity. The debentures, as well as any common shares that may be issued upon conversion of the debentures, are subject to a hold period expiring on April 22, 2013. Two Directors of Sonomax participated in the private placement. There are currently 381,331,244 common shares of Sonomax issued and outstanding.

Read at BioSpace.com

 
 

ADD TO DEL.ICIO.US    ADD TO DIGG    ADD TO FURL    ADD TO STUMBLEUPON    ADD TO TECHNORATI FAVORITES