International Zeolite Corp. V.CNZ

hmmm not the greatest news

[moe_money]

Concert Industries Ltd.: Update Regarding Interest Payment on 8.5% Convertible Debentures and Discussion with Lenders Monday July 7, 10:48 pm ET VANCOUVER, BRITISH COLUMBIA--Further to its news release of June 30, 2003, Concert Industries Ltd. (the "Company") announces that it did not receive the necessary waiver from the holders of its Senior Indebtedness to allow the Company to issue its common shares in satisfaction of the semi-annual interest payment due on its 8.5% Convertible Unsecured Subordinated Debentures. In addition, with the concurrence of the Senior Secured Lenders, the Company continues not to make monthly interest payments and did not make the $2 million principal payment which came due on July 2, 2003 under its senior secured credit facility. ADVERTISEMENT "The Company is continuing its discussions with its Senior Lenders and certain of the holders of its 8.5% Convertible Debentures regarding potential waivers of these past defaults, other possible future defaults and proposals to amend its agreements with those lenders," stated Raoul Heredia, President of Concert. The Company has been advised by the Toronto Stock Exchange that the 8.5% Convertible Debentures will henceforth trade on an interest flat basis. Concert Industries Ltd. is an international technology based company specializing in the development and manufacture of advanced airlaid materials. Concert's products are key components in a wide range of personal care consumer products including feminine hygiene and adult incontinence products. Other applications include pre-moistened baby wipes, disposable medical and filtration applications and tabletop products.