La Caisse de dépôt et placement du Québec subscribes for convertible debentures of Extenway Solutions Inc. - kotanow.com- Scottsbluff Area News, Sports, and Weather

La Caisse de dépôt et placement du Québec subscribes for convertible debentures of Extenway Solutions Inc.

Information contained on this page is provided by an independent third-party content provider. WorldNow and this Station make no warranties or representations in connection therewith. If you have any questions or comments about this page please contact pressreleases@worldnow.com.

SOURCE Caisse de dépôt et placement du Québec

MONTREAL, Feb. 26, 2014 /CNW Telbec/ - La Caisse de dépôt et placement du Québec ("La Caisse") announced that, under the terms of a subscription agreement, it has subscribed for unsecured convertible debentures ("Debentures") of Extenway Solutions Inc. ("Extenway") [TSX Venture Exchange: EY], for a principal amount of $500,000.

Extenway is a supplier of client-focused solutions for the healthcare industry. Services offered by Extenway include interactive television, bedside terminals for patients, Internet, entertainment, content integration, advertising, education and integrated solutions.

The subscription was made through a private placement under the accredited investor exemption provided by applicable securities regulation.

The Debentures mature on August 31, 2017, and bear an annual compounded interest rate of 12%.

The Debentures are convertible at a conversion price of $0.13 per common share of Extenway ("Common Shares") if the conversion is effected no later than April 29, 2016, or at a conversion price of $0.17 if the conversion is effected after that date.

Before this subscription, La Caisse held 11,492,308 Common Shares and Debentures convertible into 11,538,450 additional Common Shares, for a total of 23,030,758 Common Shares, or 15.54% of such Common Shares outstanding.

If La Caisse exercised its conversion right before April 29, 2016, it would therefore acquire ownership of 3,846,154 Common Shares, which would bring its ownership of the Common Shares to 26,876,912, or 17.68% of the Common Shares outstanding.

La Caisse may increase or decrease its investment in Extenway as a function of market conditions or other relevant factors.

This news release is issued in accordance with the early warning requirements stipulated by securities regulation, which require that investors, including the Caisse, issue and file a news release and a report, when they acquire beneficial ownership of securities with voting rights that would represent, with the securities they already hold, 10% or more of the outstanding shares of the class.

In accordance with the Early Warning System, a copy of this news release and the report will be filed with the applicable Canadian Securities Administrators and will be available on SEDAR's website (www.sedar.com) and from the person referred to below.

©2012 PR Newswire. All Rights Reserved.

Powered by WorldNow
All content © Copyright 2000 - 2014 WorldNow and KDUH. All Rights Reserved.
For more information on this site, please read our Privacy Policy and Terms of Service.