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Article: SmartSales Inc. completes Private Placement.
- Article from:
- Business Wire
- Article date:
- January 19, 2000
CopyrightCOPYRIGHT 2000 Business Wire. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Business Editors
TORONTO--(BUSINESS WIRE)--Jan. 19, 2000
SmartSales Inc. (ASE: SA.)(CDNX:SA) announced today that it has completed a private placement yielding $490,000 through the sale of Convertible Debentures.
The Convertible Debentures, which were issued for consideration of $490,000, bear a face value of $520,000 and interest at a rate of 12 percent per annum, calculated daily on a simple interest basis, and not compounded. The Debentures are for an 18 month term and mature on July 15, 2001. The face value and accrued interest are convertible to common shares of the Company at $0.10 per share. The conversion price of the Debenture has been ...