Finance

Diagnostic technology announces closing of new debenture issue

Published in AIDS Weekly, May 16th, 2005

MedMira Inc. (MMIRF) announced that it has completed the private placement of 1 year convertible debentures, that mature in March 2006, to qualified investors, raising $1.4 million in cash for the company. Of this amount $240,000 was issued to directors of the company.

The debentures feature a 20% coupon rate for a 1-year term from the date of issue and are convertible into common shares of MedMira Inc. at $1.12 per share at any time during the term.

Last year the company issued $1.4 million of convertible debentures that matured in March 2005. At maturity, $1.2 million opted to convert the debentures to common shares at a price of $0.85 per share,...

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Source: AIDS Weekly (2005-05-16)

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