CALGARY, ALBERTA--(Marketwired - July 9, 2013) -
NOT FOR DISTRIBUTION TO UNITED STATES WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES
PACEpartners Inc. (TSX VENTURE:PIA) (the "Corporation") announces that it has settled debt in the aggregate amount of USD$67,000 owing to a trade creditor by the Corporation's operating subsidiary, Vivione Biosciences, LLC. The Corporation repaid USD$35,000 in cash to the trade creditor and in order to preserve cash reserves, settled the remaining USD$32,000 (CAD$33,216 based on an exchange rate of USD 1.00 to CAD 1.038) through the issuance of 132,864 Class A Common Shares to the trade creditor at a deemed price of $0.25 per Class A Common Share.
The securities mentioned herein have not been and will not be registered under the United States Securities Act of 1933, as amended, or the securities laws of any state, and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements. This press release does not constitute an offer to sell or the solicitation of any offer to buy these securities in any jurisdiction.
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.
Contact Information:
Kevin Kuykendall
Chief Executive Officer
(214) 886-5733