Timios National amends $2.31 million promissory note held by YA Global

Investor forgives about $975,000 of debt, allows settlement agreements

By Devika Patel

Knoxville, Tenn., Feb. 15 - Timios National Corp. revised the terms of a $2.31 million promissory note held by YA Global Investments, LP on Feb. 12, according to an 8-K filed Friday with the Securities and Exchange Commission.

The investor forgave about $975,000 of debt under the note and agreed to replace the note with two new notes for $250,000 and $550,000. The investor also allowed the company to negotiate investment settlement agreements with Perma-Fix Environmental Services, Inc. and Christopher P. Leichtweis, which would previously have been unfeasible under the old note.

Based in Arlington, Va., Timios provides environmental, nuclear and radiological infrastructure remediation, disaster relief and construction services to government and commercial customers through its subsidiaries.

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