QUEBEC CITY, May 20, 2011 /CNW Telbec/ - Lyrtech Inc. (Lyrtech) (TSXV: LTK), a worldwide leader in digital signal processing
technologies, announces that it has closed a shares for debt conversion
with Welch Bussières, avocats inc. and with I2S Tactik inc.. The debts so converted amount to $151,863.01 and have
been released by the issuance of 1 012 419 common shares at a price of
$0.15 per share.
The shares issued under this transaction are subject to a restricted
period on resale for four months and one day. The transaction is
subject to the approval of TSX Venture Exchange inc. and of regulatory
Lyrtech, a proud member of the Texas Instruments Design House Network,
develops and manufactures advanced digital signal processing solutions
for companies worldwide, a vital technology to network and wireless
communications, audio and video processing, as well as electronic
systems in all fields of technology. Lyrtech offers a full range of
DSP-FPGA development platforms, as well as design, prototyping, and
manufacturing of electronic products. Lyrtech works in partnership with
industry leaders such as Texas Instruments, The MathWorks, and Xilinx.
Lyrtech's customers include many prestigious names of the consumer
electronics, telecommunications, aerospace, and defense fields.
The TSX Venture Exchange Inc. has not reviewed and does not accept
responsibility for the adequacy and accuracy of this release.
SOURCE LYRTECH INC.
For further information:
Louis Bélanger, president and CEO