Canadian Shells

[Tackler]

This explains the selling pressure, all aboard?...

Covik converts debentures into 12-cent units

2005-10-31 19:47 ET - News Release

Mr. Kaare Foy reports

COVIK DEBENTURES CONVERTED

Covik Development Corp.'s remaining $70,000 principal amount of convertible debentures issued on Dec. 8, 2004, have been converted at maturity into 583,333 units at 12 cents per unit, in accordance with the terms of the debentures. Each unit consists of one common share and one Series A share purchase warrant. Each Series A share purchase warrant entitles the holder to acquire, upon exercise, one common share at 12 cents per share until Oct. 31, 2006.