Nanotechnology Now

Our NanoNews Digest Sponsors



Heifer International

Wikipedia Affiliate Button


android tablet pc

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

Wear-resistant ceramic powder maximises component lifespan in high-stress applications: Innovnano’s nanostructured 3YSZ offers improved tribological performance for manufacturing components September 18th, 2014

IEEE International Electron Devices Meeting To Celebrate 60th Anniversary as The Leading Technical Conference for Advanced Semiconductor Devices September 18th, 2014

FEI Opens New Technology Center in Czech Republic: FEI expands its presence in Brno with the opening of a new, larger facility September 18th, 2014

Biosensors Get a Boost from Graphene Partnership: $5 Million Investment Supports Dozens of Jobs and Development of 300mm Fabrication Process and Wafer Transfer Facility September 18th, 2014

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

Harris & Harris Group Letter to Shareholders on Website August 19th, 2014

Harris & Harris Group to Host Conference Call on Second-Quarter 2014 Financial Results on August 15, 2014 August 12th, 2014

SouthWest NanoTechnologies Inc. Announces $2.7 Million in New Financing to Fund Growth, Plant Expansion and Technical Personnel August 11th, 2014

Harris & Harris Group Reports Financial Statements as of June 30, 2014 August 10th, 2014

Investments/IPO's/Splits

PEN Inc. Announces New Trading Symbol: PENC: Stock Continues Trading on the OTCQB September 3rd, 2014

Aspen Aerogels, Inc. to Present at Barclays CEO Energy-Power Conference August 27th, 2014

Harris & Harris Group Letter to Shareholders on Website August 19th, 2014

Harris & Harris Group to Host Conference Call on Second-Quarter 2014 Financial Results on August 15, 2014 August 12th, 2014

Nanomedicine

The Pocket Project will develop a low-cost and accurate point-of-care test to diagnose Tuberculosis: ICN2 holds a follow-up meeting of the Project on September 18th - 19th September 18th, 2014

New non-invasive technique could revolutionize the imaging of metastatic cancer September 17th, 2014

Recruiting bacteria to be technology innovation partners: September 17th, 2014

Nanoscience makes your wine better September 17th, 2014

Announcements

Wear-resistant ceramic powder maximises component lifespan in high-stress applications: Innovnano’s nanostructured 3YSZ offers improved tribological performance for manufacturing components September 18th, 2014

IEEE International Electron Devices Meeting To Celebrate 60th Anniversary as The Leading Technical Conference for Advanced Semiconductor Devices September 18th, 2014

FEI Opens New Technology Center in Czech Republic: FEI expands its presence in Brno with the opening of a new, larger facility September 18th, 2014

Biosensors Get a Boost from Graphene Partnership: $5 Million Investment Supports Dozens of Jobs and Development of 300mm Fabrication Process and Wafer Transfer Facility September 18th, 2014

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







© Copyright 1999-2014 7th Wave, Inc. All Rights Reserved PRIVACY POLICY :: CONTACT US :: STATS :: SITE MAP :: ADVERTISE