Essex Angel cancels C$2 million placements of convertibles and stock

Venture capital company also cancels royalty agreement with Wellness

By Devika Patel

Knoxville, Tenn., July 31 - Essex Angel Capital Inc. said it has cancelled a C$1 million non-brokered private placement of five-year unsecured convertible debentures and a C$1 million non-brokered private placement of stock. The deals priced on June 15 and May 9.

The company also said it has decided not to proceed with its planned investment in Wellness Indicators, Inc., which was announced on June 15.

The venture capital company is based in Windsor, Ont.

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