Business News • MarketWire • First Generation Capital Inc. Converts a Portion of Previously Issued Convertible Note of Trimel Pharmaceuticals Corporation |
First Generation Capital Inc. Converts a Portion of Previously Issued Convertible Note of Trimel Pharmaceuticals Corporation |
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First Generation Capital Inc. Converts a Portion of Previously Issued Convertible Note of Trimel Pharmaceuticals Corporation
TORONTO, ONTARIO--(Marketwired - Aug. 22, 2014) - Mr. Ian Ihnatowycz announced that effective today, he has converted US$5,151,768.08 aggregate amount (of which US$55,002.59 was accrued interest) of obligations owing under the convertible note (the "Note") of Trimel Pharmaceuticals Corporation (the "Issuer") that was issued to First Generation Capital Inc. on July 16, 2014 (and amended on July 28, 2014) into 8,945,796 common shares of the Issuer. In accordance with the terms and conditions of the Note, the conversion price was the U.S. dollar equivalent of Cdn.$0.62 per common share, calculated using the Bank of Canada noon rate of exchange on July 15, 2014 (being a conversion price equal to US$0.5759 per common share).
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