By Devika Patel
Knoxville, Tenn., Oct. 31 - Biorem Inc. said it completed a C$3 million private placement of a debenture with Wellington Financial LP.
Wellington also received 1,153,846 special warrants, exercisable at C$0.65 for five years.
Proceeds will be used to bolster Biorem's working capital position.
Biorem, based in Guelph, Ont., manufactures technologies used to filter air in municipal and industrial applications.
| Issuer: | Biorem Inc.
|
| Issue: | Senior secured debenture
|
| Amount: | C$3 million
|
| Warrants: | 1,153,846
|
| Warrant expiration: | Five years
|
| Warrant strike price: | C$0.65
|
| Settlement date: | Oct. 31
|
| Stock symbol: | TSX Venture: BRM
|
| Stock price: | C$0.60 at close Oct. 31
|
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