Friday, May 27, 2011 5:58:54 PM
Press Release Source: CalciTech Ltd. On Friday May 27, 2011, 9:30 am EDT
GENEVA--(BUSINESS WIRE)-- CalciTech Ltd. (OTCBB:CLKTF.ob - News) CalciTech announces that Epsom Asset Management Ltd., who has assisted the funding of the Company for a number of years, has agreed to convert USD 2.3 million of its outstanding working capital credit facility as at 31st December 2010. USD 1 million has been converted into the new series of notes announced in April 2010 and the balance of USD 1.3 million into the Company’s common shares at a price of USD 0.085 per share, resulting in the issue of 15,294,118 shares. Epsom have further extended this facility until 31st August 2012.
Roger Leopard, CalciTech CEO, stated, "We are delighted with Epsom having agreed to a further conversion into the new series of convertible notes and common shares, and extension to the repayment date of the working capital credit facility, which provides us with sufficient working capital for the coming year."
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