August 10, 2000 – maxill enters into a Private Placement
St. Thomas, Ontario
maxill inc. (CDNX: MIL) has negotiated the purchase of capital equipment that is essential to it’s business operations. It is expected that the total purchase price of this equipment will be U.S. $1,840,000. This amount will be paid by maxill in the form of a Convertible Debenture in the amount of up to U.S. $1,840,000.
The Debenture is non-interest bearing, and the outstanding principal is payable in full four (4) years from the date of issue. If fully converted, up to 4,700,000 Common shares of maxill inc. are issuable. The convertible debenture provides for reductions in the amount of the principal of the debenture upon the purchase by maxill of a certain number of products from the supplier.
maxill inc. is a manufacturer and distributor of dental hygiene and related products. There are 19,743,402 shares of Maxill Inc. outstanding as at August 4, 2000.