QUEBEC CITY, Sept. 15 /CNW Telbec/ - Lyrtech Inc. (Lyrtech or the Company) (TSX-V: LTK), a firm specializing in digital signal processing technologies, announces the issuance of new convertible debentures to the holders of convertible debentures of Lyrtech issued on January 21, 2008. The issuance totals $550,000 and is equivalent to the principal amount and the accrued interest on these convertible debentures matured January 21, 2009 totalling $550,000. These new convertible debentures will have a one year term following their issuance and will have a conversion price of $0.07 per share.
These convertible debentures are subject to a restricted period on resale of four months and one day.
Lyrtech 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 defence fields. For more information, visit www.lyrtech.com.
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SOURCE LYRTECH INC.
For further information: For further information: Louis N. Bélanger, President and CEO, Lyrtech Inc., (418) 877-4644, firstname.lastname@example.org