CalciTech Agrees Convertible Debenture.Business Editors HAMILTON, Bermuda--(BUSINESS WIRE)--February 27, 2001 CALCITECH LTD LTD 1 Laron-type dwarfism 2 Leukotriene D 3 Long-term depression, see there 4. Long-term disability . (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). BB: CLKTF; CDNX CDNX See Canadian Venture Exchange (CDNX). : CLK CLK Clock CLK Clerk CLK CDC2-Like Kinase CLK Corel RAVE (file extension) CLK Chep Lap Kok (Hong Kong airport) CLK Ceska Lekarska Komora (Chech) ). CalciTech announces it has entered into an agreement for the placement of 8% convertible debentures Convertible Debenture Any type of debenture that can be converted into some other security. Notes: For example, a convertible bond can be converted into stock. in the sum of US$1,500,000. Interest will be payable on the usual quarter days. Investors may after two years convert into CalciTech common shares at the greater of 75% of the average closing price for the ten trading days prior to the conversion or the market price per share at the time of closing. The investor shall also receive 20,000 warrants for every US$100,000 invested exercisable for a two year period during the first year at 125% of the closing average offer price for the previous ten trading days and such exercise price shall be increased by 15% during the second year after issuance. CalciTech may redeem the debentures in whole or part at any time up to two years or notice the investor to convert at two years after closing. A finders fee of 5% and 1,000 common stock purchase warrants per US$100,000 invested is payable. The issue of these convertible preferred debentures is subject to the approval of the Canadian Venture Exchange The Canadian Venture Exchange (CDNX) is now a defunct stock exchange having been acquired by the TSX Group in 2001 and renamed the TSX Venture Exchange. History of the Canadian Venture Exchange (CDNX) . This press release contains forward-looking statements which are subject to a number of contingencies and uncertainties, including but not limited to, market acceptance for CalciTech products, manufacturing of CalciTech products in a commercial setting, obtaining adequate financing and construction management for products and obtaining appropriate permits. Such forward-looking statements are not guarantees of future performance, and are based on numerous assumptions about future conditions that could change. No Stock Exchange has reviewed or accepted responsibility for the adequacy or accuracy of this press release. |
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