SPECTRA INC. REPORTS REPAYMENT OF ROYALTY DEBENTURE
Spectra Inc. has noted the payout on June 28, 2019, of the royalty debenture in the amount of $652,065.
This royalty debenture was originally issued on Aug. 4, 2004, and was due to mature on Aug. 4, 2019.
The financing received on the recently completed private placement of 16.6 million common shares for a gross receipt of $830,000, allowed the repayment of the royalty debenture in full, extinguishing the debt.
Spectra, through its subsidiary, Spectra Products Inc., is the Toronto-based North American designer, manufacturer and distributor of Brake Safe (a visual brake stroke indicating system), Brake Inspector (the company's electronic in-cab air brake diagnostic system) and the Termin-8R line of anti-corrosion and extreme pressure lubricants.