FreshXtend Announces Financings
2008年3月27日 - 4:43AM
Marketwired
VANCOUVER, BRITISH COLUMBIA ("FreshXtend" or "the Company") is
pleased to announce that, subject to regulatory approval, the
Company has arranged a private placement of secured convertible
notes for up to US$1,250,000 with interest at a rate of 8% per
annum, for a term of five years.
The notes may be converted at any time, at the option of the
holder, into common shares of the Company. The conversion rate is
one common share for each US$0.08 converted in the first two years,
US$0.09 in the third year, US$0.10 in the fourth year and US$0.11
in the fifth and final year.
The Company may repay the principal amount of the convertible
notes, together with accrued and unpaid interest, at any time,
without penalty, upon not less than 15 days notice to the holders.
Interest on the convertible notes shall be payable semi-annually in
cash or shares, at the option of the holder. Shares issued to pay
interest would be issued at the market price at the time of
issuance.
The convertible notes shall be secured by the Company's shares
in NatureSeal, Inc. and AgriCoat NatureSeal Limited, the two new
companies formed with Mantrose-Haeuser Co., Inc. to carry on the
antioxidant business as discussed in the Company's news release
dated February 19, 2008.
Gibsbourne Pty Limited, an existing shareholder holding 10% or
more of the Company's issued and outstanding shares, will be
acquiring US$650,000 in convertible notes under this private
placement.
The Company also announces that, subject to regulatory approval,
it has arranged a private placement of US$280,000 in common shares
at a price of US$0.08 per share to Gibsbourne Pty Limited.
The proceeds from the two private placements will be used to
assist the Company's contributions to NatureSeal, Inc. and AgriCoat
NatureSeal Limited, and to provide the Company with additional
working capital.
FreshXtend Technologies Corp.,
Roy Robinson, Director
FreshXtend Technologies Corp. is a leading provider of life
extension technology to the high-growth fresh produce and flower
industry. FreshXtend's patented technologies naturally place
produce in a state of hibernation while it is being shipped and
extend the shelf-life of fresh produce, flowers and juices.
FreshXtend is based in Vancouver, British Columbia and has a
network of R&D relationships, which include the University of
British Columbia.
Trading symbol: FXT (TSX-V)
Manual Listing S & P's Industrial & Int'l, 12g (3)b
Exemption: #82-2190
The statements in this news release may contain certain
forward-looking statements within the meaning of Section 27A of the
Securities Act of 1933 and Section 21E of the Exchange Act of 1934
and are subject to the safe harbour created by these sections.
Actual results may differ materially from the Company's
expectations.
The TSX Venture Exchange has neither approved nor disapproved
the contents of this news release.
Contacts: FreshXtend Technologies Corp. Roy Robinson Director
(604) 322-0759 (604) 322-0487 (FAX)
Freshxtend Tech Corp (TSXV:FXT)
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Freshxtend Tech Corp (TSXV:FXT)
過去 株価チャート
から 6 2023 まで 6 2024