CalciTech Completes Financing.Business Editors HAMILTON, Bermuda--(BUSINESS WIRE)--April 15, 2002 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) ) announces that the company closed its USD USD In currencies, this is the abbreviation for the U.S. Dollar. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. 2 million (CDN (Content Delivery Network) A system of distributed content on a large intranet or the public Internet in which copies of content are replicated and cached throughout the network. $ 3.192 million) financing on 12th April 2002. The financing, announced on 28th February 2002, consisted of 4,933,091 common shares, priced at CDN$ 0.55 with a twelve month warrant to purchase an additional common share for each share taken down at CDN$ 0.66, and USD 300,000 (CDN$ 478,800) 7.5% convertible debentures with interest payable on usual quarter days. It is convertible into common shares at investors option after two years at the greater of 75% of the average closing price for the ten trading days prior to the conversion or CDN$0.55. Investors in the convertible debenture shall also receive 60,000 warrants exercisable for a two year period at 125% in the first year and 140% in the second year of the closing average offer price for the previous ten trading days. The proceeds from the current financing are to be used to fund the building of its demonstration plant in Germany and for general working capital purposes. These issues are subject to approval by 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) . CalciTech continues to focus on the development of its environmentally friendly technology for the production of Precipitated Calcium Carbonate, which has potential applications in a wide range of markets. 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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