Seprotech Debenture Holders Extend Maturity
November 27 2011 - 5:17PM
PR Newswire (Canada)
OTTAWA, Nov. 30, 2011 /CNW/ - Seprotech Systems Incorporated
advises that all of its debenture holders have agreed to extend the
maturity date of its secured subordinated debenture from December
31, 2011 to March 31, 2012. The debenture in an aggregate principal
amount of $705,000 was issued to certain of the Company's suppliers
in September 2011 in exchange for trade debts owing to them. The
Company will continue to have the right to further extend the
maturity date of the debenture if it completes certain additional
financings. This action by the debenture holders will assist the
Company in its continuing efforts to restructure its balance sheet.
"This continued support from key suppliers who have participated in
the debenture is greatly appreciated", said Harry J. Marshall, CEO,
who added " It will facilitate continuation of recent fund-raising
activities which commenced with a $600,000 private placement in
September, 2011". About Seprotech: Seprotech is a provider of
pre-engineered water and wastewater treatment solutions to the
municipal/land development, resource sector and military market
place, including Reverse Osmosis water purification systems,
ROTORDISK® biological sewage treatment package plants and
CrystalBlue™ membrane-based water recycling systems. Neither TSX
Venture Exchange nor its Regulation Services Provider (as that term
is defined in the policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this release. The
TSX Venture Exchange has neither approved nor disapproved of the
information contained herein. Some of the statements in this press
release, including those relating to the Company's strategies and
other statements that are predictive in nature, that depend upon or
refer to future events or conditions, or that include words such as
"expects", "anticipates", "intends", "plans", "believes",
"estimates" or similar expressions, are forward-looking statements
within the meaning of securities laws. Forward-looking statements
include, without limitation, the information concerning possible or
assumed future results of operations of the Company. These
statements are not historical facts but instead represent only the
Company's expectations, estimates and projections regarding future
events. The Company does not undertake any obligation to update or
release any revisions to these forward-looking statements to
reflect events or circumstances after the date of this presentation
or to reflect the occurrence of unanticipated events, except as
required by law. Seprotech Systems Incorporated CONTACT: Mr. Ian W.
Malone, CFO Tel: (613) 523-1641 Fax: (613) 731-0851
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