News and Announcements
Immuron Clarifies Terms of Debenture with Paladin Labs.
- Published February 09, 2012 2:43PM UTC
- Publisher Wholesale Investor
- Categories Company Updates
The Company has become aware of some misinformation regarding the terms of the Convertible Debenture (Agreement) entered into with Paladin Labs Inc. (Paladin), which was announced to the ASX on 16th January 2012. Specifically, the misinformation relates to the assets of the company that are encumbered under the debenture and could have been interpreted to, erroneously, include Immuron’s intellectual property.
Immuron’s Intellectual Property is not encumbered under the Debenture in any way. In view of Immuron’s stated principal focus to commercialize all of its products and intellectual property remains absolutely unfettered. This principle was vital in Immuron’s board unanimously approving the Paladin transaction on 28 November 2011.
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