BCMC Capital Limited Partnership

March 11, 2005 13:53 ET

BCMC Capital Limited Partnership: Acquisition of Common Shares of Inventronics Limited


NEWS RELEASE TRANSMITTED BY CCNMatthews

FOR: BCMC CAPITAL LIMITED PARTNERSHIP

MARCH 11, 2005 - 13:53 ET

BCMC Capital Limited Partnership: Acquisition of
Common Shares of Inventronics Limited

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - March 11, 2005) - BCMC
Capital Limited Partnership ("Fund I") and BCMC Capital II Limited
Partnership ("Fund II") have acquired beneficial ownership of an
aggregate of 15,000,000 common shares of Inventronics Limited
("Inventronics") representing approximately 68.2% of the total issued
and outstanding common shares of Inventronics. After giving effect to
this acquisition, Fund I and Fund II own, in the aggregate, 15,100,000
common shares representing approximately 68.7% of the total issued and
outstanding common shares of Inventronics.

The acquisition of the common shares occurred in connection with a
reduction of subordinated debt of Inventronics pursuant to the terms of
a Debt Restructuring Agreement dated effective December 31, 2004 among
Fund I, Fund II and Inventronics (the "Debt Restructuring Agreement").
Under the terms of the Debt Restructuring Agreement, Inventronics issued
the common shares from treasury to Fund I and Fund II in exchange for
the reduction of the amount of its subordinated debt from $4,700,000 to
$3,500,000; the reduction of the interest rate from 17% to 8% per annum;
the cancellation of 1,715,000 share purchase warrants; the provision for
a single principal payment at maturity; and the elimination of certain
compounding provisions of the subordinated debt. The Debt Restructuring
Agreement also provided that at the option of Fund I and Fund II,
Inventronics will pay any overdue interest at ten (10%) percent per
annum by the issuance of common shares at market price. All other terms
of the subordinated debt remained unchanged.

Depending on market conditions, Fund I and/or Fund II may acquire more
securities or dispose of securities of Inventronics by private agreement
or otherwise.

To obtain a copy of the related early warning report to be filed with
applicable securities commissions, please refer to the SEDAR website
(www.sedar.com).

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Contact Information

  • FOR FURTHER INFORMATION PLEASE CONTACT:
    BCMC Capital Limited Partnership
    Ms. Chris McPhie
    (604) 685-5765
    Email cmcphie@mercantilebancorp.com
    or
    BCMC Capital Limited Partnership
    Suite 1508, 999 West Hastings Street
    Vancouver, B.C. V6C 2W2