Amarantus Bioscience settles $2 million placement of convertible notes

Convertible promissory notes sold to investor Dominion Capital in deal

By Devika Patel

Knoxville, Tenn., April 12 - Amarantus Bioscience Holdings, Inc. completed a $2 million private placement of convertible promissory notes with Dominion Capital, LLC on April 12, according to an 8-K filed Friday with the Securities and Exchange Commission. The deal was increased from $600,000 on Jan. 30.

The note converts to stock at $0.10 per share, a 25% premium to the April 11 closing price (OTCBB: AMBS) of $0.08.

The biotechnology company is based in Sunnydale, Calif.

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