OTTAWA, June 21, 2012 /CNW/ - Seprotech Systems
Incorporated (TSXV: SET) ("Seprotech" or the "Company") advises
that following TSX Venture Exchange approval it has completed with
its debenture holders the conversion of 50% of the principal amount
of the debentures ($352,500) for
3,525,000 common shares of the Company, at a conversion price of
$0.10 per share. The remaining
principal amount of the debentures ($352,500) is being repaid with interest in 12
equal monthly payments, which commenced on May 15, 2012.
The Company issued 3,525,000 common shares of the Company at a
deemed price of $0.10 per share upon
conversion of the debt. After this issuance, the current issued and
outstanding number of common shares of the Company is
66,446,926.
Harry Marshall, CEO of Seprotech,
said, "This is a key step in strengthening our balance sheet. We
are gratified by the support demonstrated by this group of our key
suppliers and partners."
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. Solutions include 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. 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.
SOURCE Seprotech Systems Incorporated