OTTAWA, June 21, 2012 /CNW/ - Seprotech Systems Incorporated (TSXV: SET)
("Seprotech" or the "Company") advises that following TSX Venture
Exchange approval it has completed with its debenture holders the
conversion of 50% of the principal amount of the debentures ($352,500)
for 3,525,000 common shares of the Company, at a conversion price of
$0.10 per share. The remaining principal amount of the debentures
($352,500) is being repaid with interest in 12 equal monthly payments,
which commenced on May 15, 2012.
The Company issued 3,525,000 common shares of the Company at a deemed
price of $0.10 per share upon conversion of the debt. After this
issuance, the current issued and outstanding number of common shares of
the Company is 66,446,926.
Harry Marshall, CEO of Seprotech, said, "This is a key step in
strengthening our balance sheet. We are gratified by the support
demonstrated by this group of our key suppliers and partners."
Seprotech is a provider of pre-engineered water and wastewater treatment
solutions to the municipal/land development, resource sector, and
military market place. Solutions include Reverse Osmosis water
purification systems, ROTORDISK® biological sewage treatment package
plants, and CrystalBlue™ membrane-based water recycling systems.
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 TSX Venture Exchange has neither approved nor disapproved of the
information contained herein. The Company does not undertake any
obligation to update or release any revisions to these forward-looking
statements to reflect events or circumstances after the date of this
presentation or to reflect the occurrence of unanticipated events,
except as required by law.
SOURCE Seprotech Systems Incorporated
For further information:
Mr. Ian W. Malone, CFO
Tel: (613) 523-1641
Fax: (613) 731-0851