OTTAWA, April 20, 2012 /CNW/ - Annidis Corporation (TSX-V:RHA), creator of the Annidis RHATM imaging technology that assists eye-care professionals screen, detect, diagnose and manage ocular diseases, today announced that in follow up to news released on March 19, 2012, it has received approval from the TSX Venture Exchange to convert $842,957 of convertible debentures (the "Debentures") which came due April 1, 2012 through issuing common shares and warrants to the holders. The Debentures consisted of $600,000 in principal and $242,957 in accrued interest. Annidis issued 2,107,392 common shares at a deemed value of $0.40 per share and 1,053,696 common share purchase warrants as the result of this conversion. Each warrant entitles the holder to purchase one additional common share at a price of $0.80 per common share for a period of 3 years following the date of issuance.
In accordance with applicable securities laws, the securities issued pursuant to the settlement of the outstanding Debentures are subject to a hold period of four months plus one day from the date of issuance.
About Annidis Corporation
Annidis (TSX-V:RHA) is dedicated to researching and developing instrumentation to assist in the early detection and monitoring of diseases of the eye. The Company's RHATM is an ocular pathology management system that integrates advanced multi-spectral imaging and analytic software for early detection and management of ocular pathologies such as glaucoma, age-related macular degeneration and diabetic retinopathy. The RHA system is the result of a multiyear research and development effort by the Annidis team in collaboration with leading eye care professionals and researchers in Canada including the Ottawa Eye Institute, Toronto Western Hospital, the School of Optometry in Montreal and numerous optometric clinics in Ontario.
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.
This news release may contain "forward-looking information" within the meaning of applicable Canadian securities legislation. Statements made in this news release, other than those concerning historical financial information, may be forward-looking and therefore subject to various risks and uncertainties. The words "may", "will", "could", "should", "would", "suspect", "outlook", "believe", "plan", "anticipate", "estimate", "expect", "intend", "forecast", "objective", "hope", and "continue" (or the negative thereof), and words and expressions of similar import are intended to identify forward-looking statements. Certain material factors or assumptions are implied in making forward-looking statements and actual results may differ materially from those expressed or implied in such statements. Factors that could cause results to vary include those identified in the Company's Annual Information Form and other such filings with Canadian securities regulatory authorities, such as the applicability of patents and proprietary technology; possible patent ligation; regulatory approval of products in development; changes in government regulation or regulatory approval processes; government and third party reimbursement; dependence on strategic partnerships; intensifying competition; rapid technological change in the industry; anticipated future losses; the ability to access capital; and the ability to attract and retain key personnel. All forward-looking information presented herein should be considered in conjunction with such filings. Except as required by Canadian securities laws, the Corporation does not undertake to update any forward-looking statements; such statements speak only as of the date made.
For further information:
Gerald Slemko, CEO
(416) 815-0700 ext. 264