By Sheri Kasprzak
New York, Jan. 26 - Neptune Technologies & Bioresources Inc. has concluded a non-brokered private placement of convertible debentures for C$2,195,342.
The 15% debentures mature on March 31, 2008 and are convertible into common shares at the higher of C$0.32 or the market price at the time of conversion.
Societe Innovatech du Sud du Quebec purchased the debentures.
Based in Laval, Quebec, Neptune Technologies develops nutritional products from marine biomasses.
| Issuer: | Neptune Technologies & Bioresources Inc.
|
| Issue: | Convertible debentures
|
| Amount: | C$2,195,342
|
| Maturity: | March 31, 2008
|
| Coupon: | 15%
|
| Price: | Par
|
| Yield: | 15%
|
| Conversion price: | The higher of C$0.32 or the market price at the time of conversion
|
| Warrants: | No
|
| Investor: | Societe Innovatech du Sud du Quebec
|
| Settlement date: | Jan. 25
|
| Stock symbol: | TSX Venture: NTB
|
| Stock price: | C$1.10 at close Jan. 25
|
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