AgriTec Systems Issues Common and Preferred Shares
December 16 2010 - 1:22PM
Marketwired Canada
AgriTec Systems, Inc. (TSX VENTURE:AGR) ("AgriTec" or the "Corporation") is
pleased to announce that it received all required approvals and is proceeding
with the issuance of an aggregate of 300,000 common shares ("Common Shares") to
certain executive officers of AgriTec as part of their compensation package.
AgriTec is also proceeding with the issuance of 20,000 series A preferred
shares, with each such preferred share being entitled to receive a dividend at
the rate of 7% per annum and being convertible into three Common Shares for a
period of five years. Press releases announcing the foregoing transactions were
originally disseminated on September 24, 2009 and February 12, 2010,
respectively. Issued securities will be subject to a minimum 4 month hold period
from the date of issuance.
AgriTec is a Houston, Texas based corporation engaged in the pursuit of "clean
tech" business opportunities for the conversion of bio-mass (specifically rice
hull ash) into value added commodities, and has been issued a number of
world-wide patents in this regard. The Corporation's common shares are listed on
the TSX Venture Exchange under the trading symbol "AGR".
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