New Issue: Viropro secures $2 million from convertible loan

By Devika Patel

Knoxville, Tenn., March 11 - Viropro, Inc. said it arranged a $2 million convertible loan from 9188-5400 Quebec Inc.

The loan carries a 10% coupon and is convertible into common shares at $0.03 per share. Interest is payable quarterly in common shares at $0.03 per share.

The company will receive the proceeds in six tranches: $400,000 by March 22, $200,000 by April 15, $300,000 by June 15, $300,000 by Aug. 15, $300,000 by Oct. 15, 2008 and $500,000 by Dec. 30, 2008.

Montreal-based Viropro specializes in the commercialization of biopharmaceuticals whose licenses have expired.

Issuer:	Viropro, Inc.
Issue:	Loan convertible into common shares
Amount:	$2 million
Coupon:	10%, payable quarterly in common shares
Price:	Par
Yield:	10%
Conversion price:	$0.03
Warrants:	No
Investor:	9188-5400 Quebec Inc.
Pricing date:	March 7
Settlement date:	March 22 (for $400,000), April 15 (for $200,000), June 15 (for $300,000), Aug. 15 (for $300,000), Oct. 15, 2008 (for $300,000), Dec. 30, 2008 (for $500,000)
Stock symbol:	OTCBB: VPRO
Stock price:	$0.05 at close March 7

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