ZipLocal pushes out maturity of outstanding 10% convertibles to 2017

By Toni Weeks

San Luis Obispo, Calif., April 2 - ZipLocal Inc. said it extended the maturity date of all of its outstanding 10% unsecured convertible debentures to April 5, 2017 from April 5, 2014.

The debentures were originally issued on April 5, 2012 or Dec. 18, 2012.

According to a press release, the maturity date was extended after receiving consent from holders representing more than 75% of the outstanding obligations owed by the company.

All other terms and conditions of the debentures will remain the same.

Toronto-based ZipLocal maintains a business directory.

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