NEWS FLASHIciena Ventures to issue 235,849 shares for debt
2009-05-20 20:13 ET - News Release
Mr. Kelly Fielder reports
ICIENA ANNOUNCES SHARES FOR DEBT
Iciena Ventures Inc. has entered into a settlement with an arm's-length party to settle a total of $25,682.31 of debt by the issuance of 235,849 common shares in the capital of the company, having a deemed value of 5.3 cents per share.
All the shares issued in connection with the shares-for-debt settlement will be subject to a statutory hold period of four months plus a day from the date of issuance in accordance with applicable securities legislation.
Closing of the shares for debt settlement is subject to a number of conditions, including receipt of all necessary corporate and regulatory approvals, including the TSX Venture Exchange.