By Sheri Kasprzak
New York, Jan. 23 - NIR Diagnostics Inc. said it has wrapped a C$1,205,900 private placement of convertible debentures.
The 12% debentures mature in two tranches - the first on March 21, 2007 and the second on April 19, 2007.
The debentures are convertible into common shares at C$0.30 each any time before maturity.
Wolverton Securities Ltd. is the placement agent.
Based in Campbellville, Ont., NIR Diagnostics develops infrared spectroscopic medical diagnostics products.
| Issuer: | NIR Diagnostics Inc.
|
| Issue: | Convertible debentures
|
| Amount: | C$1,205,900
|
| Maturity: | March 21, 2007 (first tranche), April 19, 2007 (second tranche)
|
| Coupon: | 12%
|
| Price: | Par
|
| Yield: | 12%
|
| Conversion price: | C$0.30
|
| Warrants: | No
|
| Placement agent: | Wolverton Securities Ltd.
|
| Settlement date: | Jan. 23
|
| Stock symbol: | TSX Venture: NID
|
| Stock price: | C$0.22 at close Jan. 23
|
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