By Devika Patel
Knoxville, Tenn., March 20 - Forbes Medi-Tech Inc. said in a 6-K filed with the Securities and Exchange Commission that its subsidiary, Forbes Medi-Tech Operations Inc., will raise $3 million from a private placement of a convertible debenture.
The debenture is convertible into 35% of Forbes Medi-Tech Operations' voting common shares and all of its non-voting common shares.
Settlement is expected April 30.
Forbes Medi-Tech is a Vancouver, B.C.-based life-sciences company dedicated to the development of products for the prevention and treatment of cardiovascular disease. Forbes Medi-Tech Operations is a private subsidiary.
| Issuer: | Forbes Medi-Tech Operations Inc.
|
| Issue: | Convertible debenture
|
| Amount: | $3 million
|
| Price: | Par
|
| Warrants: | No
|
| Pricing date: | March 20
|
| Settlement date: | April 30
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
