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SPECTRAL DIAGNOSTICS COMPLETES CONVERSION OF PROMISSORY NOTES
Dec. 31, 2010 (Canada NewsWire Group) -- /NOT FOR DISSEMINATION IN THE UNITED STATES/ T...
About this update from Spectral Medical Inc
[{"type":"text","content":"\n\n\n\n Dec. 31, 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\n/NOT FOR DISSEMINATION IN THE UNITED STATES/\n\n\nTORONTO, Dec. 31 /CNW/ - Spectral Diagnostics Inc. (TSX: SDI)\n ("Spectral", or the "Company") today announced that it has completed a\n transaction pursuant to which a principal amount of $1,343,750\n non-interest bearing, unsecured convertible promissory notes of\n Spectral (the "Notes") held by three investors were converted into an\n aggregate of 4,648,512 common shares ("Common Shares") in the capital\n of Spectral at a conversion price of approximately $0.29 per Common Share, all in accordance with the terms of the Notes.\n Following the conversion, the Notes were cancelled.\n\n\nAbout Spectral \nSpectral is a Phase III company seeking U.S. FDA approval for its lead\n theranostics product for the treatment of severe sepsis and septic\n shock. Toraymyxin™ is a therapeutic hemoperfusion device that removes\n endotoxin, which can cause sepsis, from the bloodstream. Directed by\n the Company's Endotoxin Activity Assay (EAA™), the only FDA cleared\n diagnostic for the detection of endotoxin. Spectral's EUPHRATES trial\n is the world's first theranostics trial in the area of sepsis.\n\n\nToraymyxin™ has been approved for therapeutic use in Japan and Europe,\n and has been used safely and effectively in more than 70,000 patients\n to date. In March 2009, Spectral obtained the exclusive development and\n c...