OTTAWA, ONTARIO--(Marketwire - July 7, 2010) - Chemaphor Inc. (TSX VENTURE:CFR), today announced that it has issued a total of 257,855 common shares in satisfaction of $24,496.99 in interest accrued to June 30, 2010 on convertible debentures issued by Chemaphor on April 30, 2009.
Pursuant to the terms of the debentures, Chemaphor has the option to satisfy interest payments by delivery of that number of common shares obtained by dividing the interest payment by the market price of the common shares on the TSX Venture Exchange at the time of settlement (determined in accordance with TSX Venture Exchange rules). The applicable price per common share determined in accordance with the terms of the debentures was $0.095, being the closing price of the Chemaphor common shares on the TSX Venture Exchange on June 29, 2010.
Chemaphor, a wellness company, is committed to developing and delivering natural health enhancer ("NHE") products to humans and animals to assist in optimizing health and daily quality of life. Chemaphor is advancing NHE product candidates for the food animal market, companion animal market and various, potential human applications. More information can be found at www.chemaphor.com
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 issuance of shares for debt remains subject to TSX Venture Exchange approval.