Aptilon Announces $3,000,000 Loan from FONDACTION
MONTRÉAL, June 22 /CNW/ - Aptilon Corporation ("Aptilon" or the "Corporation") (TSX-V: APZ), an innovative leader of on-line marketing services to physicians, today announced that it has obtained a $3,000,000 loan (the "Loan") from FONDACTION, le Fonds de développement de la Confédération des syndicats nationaux pour la coopération et l'emploi (the "Lender").
The Loan bears interest at an annual rate of 12%. Aptilon will also pay 0.5% of its EBITDA on a monthly basis to the Lender (the "Additional Payment"), which will be used by the Lender to purchase common shares of Aptilon on the secondary market in accordance with the terms of an Automatic Securities Purchase Plan. The term of the Loan is 60 months, with the principal amount of the Loan reimbursable in 48 monthly instalments of $62,500 beginning 13 months following disbursement. Interest on the Loan is payable monthly immediately after disbursement.
"More and more companies recognize the importance of reaching and interacting with physicians and healthcare professionals online. We are pleased to welcome FONDACTION as an important financial partner supporting Aptilon's continued growth as a company with international operations and the ongoing innovation of our employees at our headquarters in Montreal and in the United States," said Denis Martineau, President.
About Aptilon Corporation -------------------------
Aptilon enables pharmaceutical, biotech and medical device companies to effectively reach and interact with physicians via the Internet through its innovative AxcelRx(SM) Live video detailing platform which hosts promotional, peer selling and other sales and marketing programs. Top ten US pharmaceutical companies have adopted Aptilon's AxcelRx(SM) solution to reach physicians. Aptilon provides the infrastructure necessary for pharmaceutical companies to build physician awareness, understanding, and product preference during all stages of a product's life cycle, from pre-launch education through end stage support. For more information, visit www.aptilon.com.
AxcelRx(SM) and ReachNet(SM) are service marks of Aptilon Corporation.
About Fondaction ----------------
Fondaction invests in venture capital in order to maintain and create jobs in Québec. Its net assets stand at around $700 million and derive from retirement savings collected from about 100,000 shareholders. Fondaction is the financial partner of about a hundred enterprises and partner and specialized funds. It favours enterprises that subscribe to a participatory management process, enterprises in the social economy (employee controlled, cooperatives, etc.) and those that practice environmental stewardship. www.fondaction.com, www.REERvert.com.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as such term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
%SEDAR: 00022191EFFor further information: Denis Martineau, President, Aptilon Corporation, 1-888-544-8866, email@example.com