Sirona Biochem Corp. (TSX-V: SBM; FSE/XETRA: ZSB) has completed previously announced private placement of convertible notes for gross proceeds of $665,360.
The notes will mature in 18 months from the date of issuance and bear interest at the rate of 12% per annum, payable quarterly, until the notes are converted or repaid. Each note is convertible at the option of the holder into one common share of the company at a conversion price of $0.18 per share.
Vancouver based Sirona Biochem is a cosmetic ingredient and drug discovery company with a proprietary platform technology. Sirona specializes in stabilizing carbohydrate molecules with the goal of improving efficacy and safety. Sirona’s compounds are licensed to leading companies around the world in return for licensing fees, milestone fees and ongoing royalty payments. Sirona’s laboratory, TFChem is located in France.
photo credit: Sirona Biochem