Business
MedMira to Receive Additional $1 Million Investment from Andurja
MedMira to Receive Additional $1 Million Investment from Andurja
About this update from Medmira Inc.
[{"type":"text","content":"\n\n\n\n Oct. 1, 2010 (Canada NewsWire Group) -- \n\n#ReleaseContent TABLE\n{\n BORDER-COLLAPSE: collapse\n}\nTR.cnwUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 1px solid\n}\nTR.cnwDoubleUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 3px double\n}\nTR.cnwBoldUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 3px solid\n}\nTD.cnwUnderlinedCell\n{\n BORDER-BOTTOM: #000000 1px solid\n}\nTD.cnwDoubleUnderlinedCell\n{\n BORDER-BOTTOM: #000000 3px double\n}\nTD.cnwBoldUnderlinedCell\n{\n BORDER-BOTTOM: #000000 3px solid\n}\n#ReleaseContent TABLE.cnwBorderedTable TD\n{\n BORDER-RIGHT: black 1px solid;\n PADDING-RIGHT: 2px;\n BORDER-TOP: black 1px solid;\n PADDING-LEFT: 2px;\n PADDING-BOTTOM: 2px;\n BORDER-LEFT: black 1px solid;\n PADDING-TOP: 2px;\n BORDER-BOTTOM: black 1px solid;\n BORDER-COLLAPSE: collapse\n}\n#ReleaseContent TABLE TD\n{\n PADDING-RIGHT: 2px;\n PADDING-LEFT: 2px;\n PADDING-BOTTOM: 2px;\n PADDING-TOP: 2px\n}\n\nHALIFAX, Oct. 1 /CNW/ - MedMira Inc., ("MedMira") (TSX Venture: MIR, NASDAQ: MMIRF), a developer of rapid diagnostic technology and solutions, today announced that it has entered into an agreement with Andurja AG (Andurja), a Swiss company based in Lucerne, Switzerland, for the issuance of a CAD $1 million convertible debenture. Andurja previously invested $2 million in MedMira in 2009.\nUnder the terms of the agreement, the debenture will bear interest of 5% per annum. The debenture is convertible in whole or in part into common shares of MedMira at CAD $.05 per share at any time during the term of the debenture and matures September 30, 2013. The debenture is repayable either by way of cash or shares issuable under a subscription agreement entered into by both parties on October 1, 2010. Andurja also holds a share purchase warrant, exercisable for 10,000,000 common shares of MedMira at a price of $0.10 per common share until September 30, 2012. This agreement is subject to the approval of the TSX venture exchange.\n\nAbout MedMira Inc.\n\nMedMira is a leading developer and manufacturer of flow-through rapid diagnostics. The company's tests provide hospitals, labs, clinics and individuals with reliable, rapid diagnosis for diseases such as HIV and hepatitis C in just three minutes. The company's tests are sold under the Reveal(R), Multiplo(TM) and Miriad brands in global markets. MedMira's rapid HIV test ...