NORTHVALE, N.J., Nov. 26, 2013 (GLOBE NEWSWIRE) -- Elite Pharmaceuticals, Inc. (“Elite”) (OTCBB:ELTP) announced today that Jerry Treppel, Elite’s Chairman of the Board, has elected to convert the outstanding principal amount owed as part of the $1 million Treppel Credit Line to an unsecured convertible note (“Note”). The Treppel Credit Line remains in effect and is available, in full, through July 2014, the remaining term of the credit line.
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