Debentures converted

OTTAWA — PharmaGap Inc. retires PharmaGap-logo-122X25.JPGall of its outstanding Series 1, 2, 3 and 4 convertible secured debentures, through a conversion to common shares and warrants. This follows a notice by major debenture holder SC Stormont Holdings Inc. that it would exercise its right of conversion on or before the maturity date for the debentures. If all warrants are converted, Stormont Holdings will own 39.7% of the outstanding common shares of PharmaGap Inc.

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