By Sheri Kasprzak
New York, Feb. 9 - Microbix Biosystems Inc. said it has settled a private placement for C$1 million.
The company issued a 9% convertible debenture to an existing shareholder.
The debenture is convertible into common shares at C$0.90 each and matures in 10 years.
The new debenture is a combination of two existing debentures issued in December 2002 and March 2004.
Toronto-based Microbix develops biotherapeutic drugs, including vaccine technologies and animal reproductive technologies.
| Issuer: | Microbix Biosystems Inc.
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| Issue: | Convertible debenture
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| Amount: | C$1 million
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| Maturity: | 10 years
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| Coupon: | 9%
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| Price: | Par
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| Yield: | 9%
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| Conversion price: | C$0.90
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| Warrants: | No
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| Settlement date: | Feb. 9
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| Stock symbol: | Toronto: MBX
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| Stock price: | C$0.65 at close Feb. 8
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