Business
COUNTERPATH CLOSES PRIVATE PLACEMENTS
COUNTERPATH CLOSES PRIVATE PLACEMENTS
About this update from Newpath Resources Inc
[{"type":"text","content":"\n\n\n\n Oct. 29, 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\n\nVANCOUVER, Oct. 29 /CNW/ - CounterPath Corporation (TSX-V: CCV; OTCBB:\n CPAH), a leading provider of desktop and mobile VoIP software products\n and solutions, today announced that it has closed on two previously\n announced private placements raising a total of $1,464,800\n (CDN$1,500,000).  Under the first private placement announced on July\n 30, 2010, the Company closed on the second tranche issuing $490,750\n (CDN$500,000) of convertible debentures on October 29, 2010. The total\n of $974,050 (CDN$1,000,000) debentures raised under this first private\n placement may be converted at any time, prior to maturity on July 30,\n 2012, into shares of the Company's common stock at a conversion price\n of $1.00 per share subject to certain conditions. The convertible\n debentures are unsecured obligations of the Company and carry an\n interest rate equal to the Prime Bank Rate as quoted by the Bank of\n Montreal, payable monthly.\n\n\nUnder the second private placement announced on October 21, 2010, the\n Company issued $490,750 (CDN$500,000) of convertible debentures on\n October 29, 2010. The debentures may be converted at any time, prior to\n maturity on July 30, 2012, into shares of the Company's common stock at\n a conversion price of $1.37 per share subject to certain conditions.\n The convertible debentures are unsecured obligations of the Company and\n carry an interest rate equal to the Prime Bank Rate...