Biotechnology
Advitech Announces Bridge Financing
Published in Biotech Business Week, May 9th, 2011
2011 MAY 9 -- Advitech Inc. ("Advitech" or the "Corporation") (TSXV: AVI) is pleased to announce it has completed a bridge financing (the "Bridge Financing") for an aggregate amount of $400,000 with AgeChem Venture Fund L.P. ("AgeChem") and Avrio Ventures Limited Partnership ("Avrio") which respectively hold 45,474,346 and 30,854,167 common shares in the capital of Advitech representing respectively 44% and 30% of the total number of issued and outstanding common shares of the Corporation.
Avrio and AgeChem each provided a loan in the principal amount of $200,000 to Advitech as part of the Bridge Financing (the "Loans"). The Loans are repayable on the...
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