Seprotech Debenture Holders Extend Maturity

OTTAWA, Nov. 30, 2011 /CNW/ - Seprotech Systems Incorporated (TSX-V: SET; "Seprotech" or the "Company") advises that all of its debenture holders have agreed to extend the maturity date of its secured subordinated debenture from December 31, 2011 to March 31, 2012. The debenture in an aggregate principal amount of $705,000 was issued to certain of the Company's suppliers in September 2011 in exchange for trade debts owing to them. The Company will continue to have the right to further extend the maturity date of the debenture if it completes certain additional financings. This action by the debenture holders will assist the Company in its continuing efforts to restructure its balance sheet.

"This continued support from key suppliers who have participated in the debenture is greatly appreciated", said Harry J. Marshall, CEO, who added " It will facilitate continuation of recent fund-raising activities which commenced with a $600,000 private placement in September, 2011".

About Seprotech:

Seprotech is a provider of pre-engineered water and wastewater treatment solutions to the municipal/land development, resource sector and military market place, including 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. Some of the statements in this press release, including those relating to the Company's strategies and other statements that are predictive in nature, that depend upon or refer to future events or conditions, or that include words such as "expects", "anticipates", "intends", "plans", "believes", "estimates" or similar expressions, are forward-looking statements within the meaning of securities laws. Forward-looking statements include, without limitation, the information concerning possible or assumed future results of operations of the Company. These statements are not historical facts but instead represent only the Company's expectations, estimates and projections regarding future events. 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

Profil de l'entreprise

Seprotech Systems Incorporated

Renseignements sur cet organisme


FORFAITS PERSONNALISÉS

Jetez un coup d’œil sur nos forfaits personnalisés ou créez le vôtre selon vos besoins de communication particuliers.

Commencez dès aujourd'hui .

ADHÉSION À CNW

Remplissez un formulaire d'adhésion à CNW ou communiquez avec nous au 1-877-269-7890.

RENSEIGNEZ-VOUS SUR LES SERVICES DE CNW

Demandez plus d'informations sur les produits et services de CNW ou communiquez avec nous au 1‑877-269-7890.