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Microcap & Penny Stocks : CRYOPAK CII.V -- Ignore unavailable to you. Want to Upgrade?

To: Brian MacDonald who wrote (243)	2/25/2000 9:31:00 AM
From: Brian MacDonald	Read Replies (1) \| Respond to of 298

2/25/00 - European Financing Assures Long Term Development and Acquisition CRYOPAK INDUSTRIES INC. ("CII-V") - European Financing Assures Long-Term Development and Acquisition - for Cryopak Industries. Mr. Harry Bygdnes, President of Cryopak Industries Inc., is pleased to announce that a convertible loan in the amount of CDN $3,637,500 has been arranged with a European investment group headquartered in Geneva, Switzerland. The loan will have a term of three (3) years and will bear interest at the rate of 10% per year, payable annually. The principal amount of the loans will be convertible into units (each unit consisting of one common share and one-half non-transferable share purchase warrant) at the rate of $1.25 per unit in the first year, $2.00 per unit in the second year and $3.00 per unit in the third year. However, no more than one-third of the principal amount may be converted during each year. Each full warrant will be exercisable for one common share, for a period of two years (but not beyond the maturity date), at an exercise price equal to the applicable conversion price at the time of exercise. The company will pay a finder's fee of 10% of the proceeds in cash. The proceeds of the private placement are planned to be utilized to complete the purchase of Northland Ice Gel Inc. and Northland Custom Packaging and for general working capital purposes. Cryopak Industries announced on September 15 and 17, 1999 an agreement in principle to purchase these companies, but it has been necessary to firstly raise the appropriate financing. The financing and acquisition of these profitable companies will allow Cryopak to become a complete "Cold Chain" solutions provider. The strategic addition of Northland's products fills out Cryopak's product offering. Marketing synergies between the companies will allow Cryopak to achieve significant sales goals. Cryopak Industries Inc. develops, manufactures and markets temperature-controlling products and packaging systems for the transport of pharmaceuticals, seafood, airline food and beverages, and for Internet directed retail and commercial shopping networks. The Company is headquartered in Vancouver, British Columbia and is traded on the Canadian Venture Exchange under the symbol CII. For more information about Cryopak Industries Inc. or its patented products, visit the company's web site at www.cryopak.com or call toll free (800) 667-2532. The Canadian Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release, and the financing outlined above is subject to regulatory approval. TEL: (800) 667-2532 Harry Bygdnes, President & CEO or TEL: (604) 685-3616 Adam Rabiner, Investor Relations Cryopak Industries Inc. ______________________________________ (c) Corporate Dissemination Services Inc. All rights reserved. Tel:(604) 689-1101 -------------- Well, no mention of NASDAQ on this PR. I do like the conversion prices and the stepped approach. With this out of the way, the NASDAQ BB listing can't be far behind. Brian P.S. Haven't seen the lifting of the CTO by the company yet. Will another shoe drop before that happens?