TORONTO, ONTARIO--(Marketwired - March 31, 2015) - Biosenta Inc. (Biosenta) (CSE:ZRO) is pleased to provide details about new terms for its convertible debentures (CDs).
Biosenta is offering a new CD to investors to fund ongoing development of its Tri-Filler industrial product and the third generation of its disinfectant, Purity.
The CDs will have a maturity date of 36 months and an automatic conversion to equity if the share price trades at or above 20 cents for 30 days. The conversion price is 15 cents. The CD is interest bearing at 6% per annum and in addition. In the case of these CDs, a royalty component has been added equal to 6% as free cash flow becomes available.
The Biosenta board has approved extending the terms of the new CDs to existing CD holders and the terms of their existing CDs if they invest at least 25% of their current investment.
"The addition of a 6% royalty component to the 6% interest is intended to make the CDs more attractive to investors in Biosenta" said Mr. Dene Rogers, President and CEO.
Forward looking information: There can be no assurances that the laboratory tests, discussions or product standard initiatives will be successful for the Consumer Division products. In addition, there can be no assurance that retail sales results, or regulatory approvals will be successful for the Consumer Division products. Also, there can be no assurance as to the outcome of the possible improprieties or this patent dispute discussed above. Finally, there can be no assurance that sufficient funding will be available to enable Biosenta to continue as a going concern or as to the terms thereof.
About Biosenta Inc.: Biosenta Inc. develops and manufactures a range of chemical compounds for household and industrial applications using advanced nanotechnology.
The household disinfectants and cleaners possess similar levels of efficacy as traditional disinfectants with significantly lower concentrations of active ingredients resulting in lower toxicity. These disinfectants and cleaners will kill 100% of potentially deadly mold, fungi, bacteria and viruses on contact and prevent re-growth. These disinfectants are very safe due to the very low toxicity.
The industrial compounds are embedded to protect various materials, including drywall, plastics and resins, from microbe formation. These compounds remain active for decades and protect the drywall of buildings, objects such as resin furniture, and carpet which contain plastic or resin, as well as textiles and paper from mold, fungi, bacteria and viruses.
Both the household and industrial products are environmentally safe and biodegradable.
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Contact Information:
Biosenta Inc.
416-410 2019
dene@biosenta.com