|
TORONTO, ONTARIO--(Marketwire - Aug. 20, 2012) - Gemoscan Canada, Inc. ("Gemoscan" or the "Corporation") (TSX VENTURE:GES) (MUN:1GE) wishes to announce that, subject to TSX Venture Exchange ("TSXV") final approval, it has completed closing its convertible debenture financing, announced August 3, 2012, with total proceeds of $142,000. The debentures will have a term of one (1) year and pay interest at the rate of 8% per annum. The debentures will be unsecured. The debentures will be convertible into shares of the Corporation at the rate of one Class A share for each $0.27 converted. In addition, purchasers shall receive one-half of a share purchase warrant for each $0.27 in debenture acquired Each full warrant will entitle the holder to acquire a Class A share at a price of $0.27 per share until August 20, 2013. |
