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Microcap & Penny Stocks : Cubix Investments - QBX on the CDNX
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To: keith massey who started this subject11/13/2000 9:03:49 PM
From: Bob Walsh  Read Replies (1) of 135
 
Cubix to participate in Ultra Holdings financing

Cubix Investments Inc QBX
Shares issued 35,163,741 Nov 10 close $0.50
Mon 13 Nov 2000 News Release
Also Ultra Holdings Inc (UPH)
Mr. Brad Carr reports
The company will participate in a financing of Ultra Holdings, a company
that trades on the Canadian Venture Exchange under the symbol UPH. The
company will purchase a convertible debenture of $5-million, bearing
interest at 8.5 per cent per year. The debenture will have a term of five
years and conversion into units can occur after the initial 18 months until
the end of the term. The debenture is convertible into units after the
initial 18 months at the rate of $2.70 per unit until the end of the second
year after issuance; $3.20 until the end of the third year; $3.70 until the
end of the fourth year; and $4.20 until the end of the fifth year. Each
unit comprises one common share in the capital of the company and one
non-transferable share purchase warrant. The warrants will expire on the
earlier of five years from the date of issuance of the convertible
debenture, and two years after conversion of the debenture. Each warrant
will entitle the holder to acquire a further common share of the company
for $2.70 per share until the expiry of two years from the date of issuance
of the debenture; $3.20 in the third year; $3.70 in the fourth year; and
$4.20 in the fifth year. This financing is subject to regulatory approval.
(c) Copyright 2000 Canjex Publishing Ltd. stockwatch.com
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