GREY:IPHAF - Post by User
Post by
gerardtvon Nov 17, 2010 2:31pm
348 Views
Post# 17719834
3SBio converts remaining Debenture into Shares
3SBio converts remaining Debenture into SharesISOTECHNIKA PHARMA ANNOUNCES CONVERSION OF CONVERTIBLE DEBENTURE
EDMONTON, Nov. 17 /CNW/ - Isotechnika Pharma Inc. announces it hasrecently received a notice from 3SBio, Inc. to convert the remainder ofthe convertible debenture issued on August 23, 2010. Under the noticereceived from 3SBio, Inc., the remaining debenture amount of US$2.58million was converted into Common Shares pursuant to the terms of thedebenture certificate. As a result, the company issued 17,516,000Common Shares at CDN
.155 per Common Share to 3SBio, Inc. The CommonShares are subject to a four month plus one day hold which commenced onAugust 23, 2010. The initial debenture issued for US$4.5 million hasnow been fully converted to Common Shares and 3SBio, Inc. ownsapproximately 18.8% of the issued and outstanding shares of theCompany.