HALIFAX, Feb. 20 /CNW/ - MedMira Inc., (“MedMira”) (TSX Venture: MIR, NASDAQ:MMIRF) a global market leader in premium rapid flow-through diagnostic solutions, today announced that it has renegotiated an outstanding convertible debenture issued in December 2005. The Company has negotiated a Debt for Shares agreement that would convert $1,500,000 of debt to 5,660,337 common shares at a conversion price of $.264. The remaining $791,667 balance of the existing debenture has been amended to feature a decreased interest rate of 10% and a maturity date of February 28 2010. This debenture is convertible into common shares of MedMira Inc. at $.33 per share at any time during the term. These terms are subject to the approval of the TSX Venture Exchange.
