MONTREAL, Oct. 29 /CNW/ - SIPAR Inc. ("SIPAR") announced that it has
exercised its right to convert the convertible debenture of $ 350,000 of D-Box
Technologies Inc. ("D-Box") in exchange of common shares and one-half of a
warrant of D-Box.
The debenture is converted at a price of $0.28 per common share. Each
warrant is exercisable for one common share of D-Box at a price per share of
$0.35 until September 30, 2008.
Prior to this conversion, SIPAR has acquired on the market 1 019 500
common shares of D-Box since September 28, 2007.
As a result of the conversion and the market accumulation, SIPAR has
control over approximately 16.52% of the current issued and outstanding common
shares of D-Box. If SIPAR were to exercise its privilege with respect to all
the remaining warrants it holds, the participation of SIPAR would represent
approximately 17.58% of the outstanding common shares of D-Box, on a partially
This investment decision is motivated by portfolio management
considerations and for the aggregate portfolio under discretionary management.
SIPAR could increase or decrease its position as per the investment objectives
or size of the investment portfolio that it manages for its clients. SIPAR
does not, however, intend to acquire more than 20%.
SIPAR is an institutional fund management firm specialized in the segment
of emerging Quebec-based companies with micro and small capitalizations.
For further information:
For further information: Mr. Serge Leclerc, President & CEO, SIPAR Inc.,
Phone: (514) 861-9252, www.sipar.ca