Nanotechnology Now

Our NanoNews Digest Sponsors


Heifer International

Wikipedia Affiliate Button

Home > Press > ViRexx Announces LM Funds Corp. Excercises Option to Exchange Convertible Loan

Abstract:
ViRexx Medical Corp. (TSX:VIR) (AMEX:REX), a company focused on developing innovative-targeted therapeutic products that offer better quality of life and a renewed hope for living announces that LM Funds Corp. ("LM") has exercised its option to exchange its convertible loan issued to ViRexx June 4, 2008 into common shares of ViRexx.

ViRexx Announces LM Funds Corp. Excercises Option to Exchange Convertible Loan

Edmonton, AB, Canada | Posted on September 19th, 2008

As a result of LM's conversion it has received 10,000,000 common shares of ViRexx at a price per share of CA$0.10. Each common share issued in this conversion is accompanied by a one-half warrant. Each full warrant entitles the holder, on exercise to purchase one additional common share at a price equal to CA$0.15 for 12 months from the date of issue of the warrant, September 17, 2008.

With this conversion, the General Security Agreement ("GSA") covering as security all of ViRexx's present and after acquired property and intellectual property, subject to some possible third party interests in the patents has been relieved and released.

"This is a positive first step for ViRexx as the company moves forward and we now have the freedom to use our assets to further the long term value and interests of ViRexx" said Darrell Elliott, Chairman and Interim Chief Executive Officer of ViRexx.

####

About ViRexx Medical Corp.
ViRexx is a Canadian-based development-stage biotech company focused on developing innovative-targeted therapeutic products that offer better quality of life and a renewed hope for living. Our platform technologies include product candidates for the treatment of Hepatitis B, Hepatitis C, avian influenza viral infections, biodefence and nanoparticle applications, select solid tumors and late-stage ovarian cancer.

This news release contains certain forward-looking statements that reflect the current views and/or expectations of the Company with respect to its performance, business and future events. Such statements are subject to a number of risks, uncertainties and assumptions. Actual results and events may vary significantly.

The TSX has not approved or disapproved of the information contained herein.

For more information, please click here

Contacts:
ViRexx Medical Corp.
Darrell Elliott
Chairman and Chief Executive Officer
(780) 433-4411
(780) 436-0068 (FAX)

Copyright © Marketwire

If you have a comment, please Contact us.

Issuers of news releases, not 7th Wave, Inc. or Nanotechnology Now, are solely responsible for the accuracy of the content.

Bookmark:
Delicious Digg Newsvine Google Yahoo Reddit Magnoliacom Furl Facebook

Related News Press

News and information

Making magnets flip like cats at room temperature: Heusler alloy NiMnSb could prove valuable as a new material for digital information processing and storage July 25th, 2016

An accelerated pipeline to open materials research: ORNL workflow system unites imaging, algorithms, and HPC to advance materials discovery and design July 24th, 2016

Russian physicists discover a new approach for building quantum computers: Physicists find a way of 'bundling together' multiple elements of a quantum computer July 24th, 2016

A 'smart dress' for oil-degrading bacteria July 24th, 2016

VC/Funding/Angel financing/Loans/Leases/Crowdfunding

NanoLabNL boosts quality of research facilities as Dutch Toekomstfonds invests firmly June 10th, 2016

Oxford Nanoimaging to provide desktop super-resolution microscopes May 10th, 2016

ORIG3N Added to Companies Presenting at Harris & Harris Group's Annual Meeting, Tuesday June 7, 2016, the New York Genome Center April 27th, 2016

Philadelphia Mathematician Robert Clark Turns to Crowdfunding to Support Nanotechnology Research That Could Lead to ‘Flying’ Cars and Space Elevator April 4th, 2016

Investments/IPO's/Splits

Nanometrics Announces Upcoming Investor Events July 20th, 2016

Keystone Nano selected as a top scoring company by NCI investor review panel July 19th, 2016

Arrowhead Pharmaceuticals to Present at Cantor Fitzgerald's 2nd Annual Healthcare Conference July 6th, 2016

Nanometrics to Participate in the 8th Annual CEO Investor Summit: Investor Event Held Concurrently with SEMICON West 2016 in San Francisco June 22nd, 2016

Nanomedicine

New remote-controlled microrobots for medical operations July 23rd, 2016

New superconducting coil improves MRI performance: UH-led research offers higher resolution, shorter scan time July 23rd, 2016

New probe developed for improved high resolution measurement of brain temperature: Improved accuracy could allow researchers to measure brain temperature in times of trauma when small deviations in temperature can lead to additional brain injury July 23rd, 2016

Nanoparticle versus cancer: Scientists have created nanoparticles which cure cancer harmlessly July 22nd, 2016

Announcements

Making magnets flip like cats at room temperature: Heusler alloy NiMnSb could prove valuable as a new material for digital information processing and storage July 25th, 2016

An accelerated pipeline to open materials research: ORNL workflow system unites imaging, algorithms, and HPC to advance materials discovery and design July 24th, 2016

Russian physicists discover a new approach for building quantum computers: Physicists find a way of 'bundling together' multiple elements of a quantum computer July 24th, 2016

A 'smart dress' for oil-degrading bacteria July 24th, 2016

NanoNews-Digest
The latest news from around the world, FREE




  Premium Products
NanoNews-Custom
Only the news you want to read!
 Learn More
NanoTech-Transfer
University Technology Transfer & Patents
 Learn More
NanoStrategies
Full-service, expert consulting
 Learn More











ASP
Nanotechnology Now Featured Books




NNN

The Hunger Project







Car Brands
Buy website traffic