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Message: Pharmeng $1-million debenture private placement - 2008-12-17

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Pharmeng $1-million debenture private placement - 2008-12-17

posted on Feb 02, 09 03:15AM

Pharmeng $1-million debenture private placement

2008-12-17 16:39 ET - Private Placement

The TSX Venture Exchange has accepted for filing documentation with respect to a non-brokered private placement.

Convertible debenture $1-million

Conversion price: Convertible into common shares at a price of 25 cents of principal outstanding in the first two years, at 27.5 cents in the third year, at 30.3 cents in the fourth year and at 33.3 cents in the fifth year

Maturity date: Five years from the date of issuance

Interest rate: 12 per cent per year

Hidden placee: One

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