Triant debentureholders opt for equity All long-term debt eliminated as debentureholders convert to common shares
PR NEWSWIRE - March 21, 2000 09:00
NANAIMO, BC, Mar 21, 2000 /CNW-PRN via COMTEX/ -- Triant Technologies Inc. (CDNX:TNT; OTCBB:TNTTF) announces that all holders of the Company's convertible debentures, with a total face value of $775,000, have requested conversion of these debentures into a total of 310,000 of the Company's common shares. The Company originally issued these debentures on August 12, 1997, at an interest rate of 10%, with a maturity date of August 12, 2002.
Mark Stephens, Chief Financial Officer of Triant, stated: ``This conversion of all our long-term debt to equity is a key component of our financial strategy to significantly increase our net tangible assets, strengthen our financial resources and achieve profitability.'
Triant Technologies Inc. is a leader in semiconductor equipment health monitoring and advanced fault detection (EHM&AFD) solutions. Triant's principal product, ModelWare/RT(TM), is an innovative software solution designed specifically for semiconductor manufacturers to detect and identify process and equipment faults in real-time and off-line. ModelWare/RT provides insight into equipment conditions and uses set-point and model-based alarms to quickly alert fab personnel of processing and equipment failures and benefits our customers by increasing overall equipment effectiveness, improving equipment maintainability and uptime, and increasing equipment throughput. Triant information is available via the Internet at www.triant.com
This news release contains forward-looking statements that are subject to various risks and uncertainties. The Company's actual results could differ materially from those anticipated in such forward-looking statements as a result of numerous factors that may be beyond the Company's control. Forward-looking statements are based on the expectations and opinions of the Company's management on the date the statements are made, and the Company assumes no obligation to update forward-looking statements should circumstances in management's expectations or opinions change.
SOURCE Triant Technologies Inc. |
