Hemostemix Announces the Closing of a $2,500,000 Convertible Debenture

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[{"type":"text","content":"Hemostemix Announces the Closing of a $2,500,000 Convertible DebentureCalgary, Alberta--(Newsfile Corp. - June 11, 2021) - Hemostemix Inc. (TSXV: HEM) (OTC: HMTXF) ‎‎(FSE: 2VFO) (\"Hemostemix\" or the \"Company\") is pleased to announce that it closed its previously announced $2,500,000 convertible debenture order from a director of the Company for Debenture Units priced at $1,000 per Unit as detailed below.CLINICAL TRIAL UPDATEHemostemix has obtained a new copy of its clinical trial data base from a former service provider who originally activated the clinical trial and who managed the data base for approximately the first two years of the clinical trial. The Company's data management firm is now integrating the data of the subjects treated in South Africa. Hemostemix's contractors are proceeding well with the completion of key tasks of the close out of the clinical trial including completion of the data base management plan, drafting of the statistical analysis plan, completing data base entry, query management and data base validation through source document verifications.LITIGATION UPDATEIn the action pending in Florida State Court, with the Appeal still pending challenging personal jurisdiction over Hemostemix in Florida, Hemostemix and Aspire are engaging in discovery, including issuing notices for the depositions of key employees and officers. Dates for the depositions are being negotiated. Hemostemix intends to depose Aspire's witnesses in July, 2021 after the parties have exchanged documents. Hemostemix continues to aggressively defend against Aspire's claims, which are without merit. In the action pending in Delaware Federal Court, on June 1st Hemostemix, the plaintiff, moved to dismiss Aspire's counterclaims. The parties are to begin discovery, including document collection and production, and are negotiating a confidentiality agreement to govern the exchange of documents by each party. Hemostemix will continue to aggressively prosecute its claims against Accudata and Aspire. TERMS OF THE DEBENTURE OFFERINGThe debenture offering ‎(the \"Debenture Offering\")‎ is a $2,500,000 five-year unsecured non-transferrable convertible debenture, with conversion at the option of Hemostemix, and consists of 2,500 debenture units (each, a \"Debenture Unit\") at a price of $1,000 per Debenture U...

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