ZoomMed Announces the Closing of a New Financing and the Repayment of its $1,5M Convertible Debenture
17 January 2014 - 8:31AM
Marketwired Canada
ZoomMed Inc. (TSX VENTURE:ZMD) (the "Corporation") announces the closing of a
non-revolving loan, for a principal amount not exceeding US$2,000,000 (the
"Loan"), of which US$1,664,318.92 has already been advanced, and the repayment
of the CA$1,500,000 current convertible debenture.
The new secured debenture's maturity date is December 31, 2014 and the annual
interest rate is 17%. This debenture is subject to a bonus of shares of
4,607,795 common shares of the capital stock of ZoomMed at a deemed price of
0.05 $ CA each, in accordance with rule 5.1 of the TSX Venture Exchange Policy.
The Corporation has granted to the lender, as security for the payment and
performance of the obligations under the Credit Agreement, a security interest
in favor of the lender charging the universality of the Corporation's present
and after-acquired movable property, corporeal and incorporeal. The whole is
subject to the final approval of the TSX Venture Exchange and the other
regulatory approvals.
About ZoomMed
The Company builds and operates "ZoomMed's communication network", a clinical
information exchange platform between physicians and the various other
stakeholders of the healthcare sector, such as pharmacists, specialists,
pharmaceutical corporations, laboratories, specialized clinics and others.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term
is defined in policies of the TSX Venture Exchange) accepts responsibility for
the adequacy or accuracy of this release.
FOR FURTHER INFORMATION PLEASE CONTACT:
ZoomMed
Mr. Yves Marmet
President and Chief Executive Officer
(450) 678-5457, Ext 228
info@zoommed.com
www.zoommed.com
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