Re Dominion Capital, LLC, increasing their investment to (i.e., faith in) Amarantus.
Facts (as stated in the 1/31/13 PR):
In November 2012, Amarantus issued a Convertible Promissory Note to Dominion Capital, LLC in the principal amount of $600,000. On January 28, 2013, the note was amended to increase the principal amount of the note to $2,000,000. The Note bears interest at the rate of ten percent (10%) per annum, is convertible into common stock at $0.10 per share, and is pre-payable at the company's option at any time. The financing commitments will be realized by Amarantus under the note in six separate tranches of $200,000 to $250,000, subject to certain milestone achievements. Dominion has agreed to a "no shorting" provision.
"Amarantus has made tremendous progress since our initial investment last year. We believe in the assets and the direction of the Company, and are pleased we can contribute to the Company's future growth," added Mikhail Gurevich, Managing Partner, Dominion Capital, LLC.
Opinions that “undisclosed conditions” are included are baseless. For those wishing to review the facts reported in the 8-K of 11/14/12:
On 14 November 2012, Amarantus Biosciences, Inc. (the “Company”), entered into a Convertible Promissory Note with Dominion Capital, LLC, or its registered assigns (“Dominion”), in the principal amount of $600,000.00, payable in four tranches, with a Maturity Date of 3 June 2013.
The Note bears interest at the rate of ten (10%) percent per annum from 14 November until paid in full, and can be converted into common shares of the Company at a price of ten ($0.10) cents per share, subject to certain conditions to be met by the Company.
The coming days, weeks and months will reveal numerous events propelling AMBS to even greater success than that already achieved.
I know what I own and am years long AMBS
"Men of genius are admired, men of wealth are envied, men of power are feared; but only men of character are trusted." Alfred Adler
