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| Home : Nerium Biotechnology, Inc. Completes US$250,000 Private Placement |
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Sep 30
2011 |
Nerium Biotechnology, Inc. Completes US$250,000 Private Placement |
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SAN ANTONIO, TEXAS--(Marketwire - Sept. 30, 2011) - Nerium Biotechnology, Inc. ("the Company") is pleased to announce that it has completed a non-brokered private placement of US$250,000 to a single Canadian investor. The Company has issued 250,000 Series "B" Convertible Preference Shares, without nominal or par value at a price of US$1.00 per share. The Series "B" Convertible Preference Shares are non-voting, do not pay dividends, contain no redemption or retraction rights and are entitled upon dissolution or liquidation of the Company to repayment of the amount paid for such shares in priority to the common shares, but shall not be entitled to any further participation in profits or assets. Each Series "B" Convertible Preference Share may, at the option of the holder, be converted into one common share of the Company at any time after September 26, 2011 but before December 31, 2012. Any transfer of the Series "B" Convertible Preference Shares requires the approval of the directors or shareholders of the Company. The full provisions attaching to the Series "B" Convertible Preference Shares are being filed concurrently with this press release on the Company's filings on SEDAR at www.sedar.com. |
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| Source:http://www.marketwire.com/mw/release.do?id=1567707&sourceType=3 |
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