BRIEF-Kaizen and HPX agree to convert outstanding loan into common shares of Kaizen

Fri Sep 16, 2016 1:05am EDT
 
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Sept 16 (Reuters) - Kaizen Discovery Inc :

* Kaizen and HPX agree to convert outstanding loan into common shares of Kaizen

* Agreed with HPX to convert full amount of principal and interest owing on loan facility provided to Kaizen by HPX

* Loan totaling approximately C$5.07 million, will be converted into common shares of Kaizen at conversion price of C$0.1575 per share

* As a result of conversion, amount owing on loan facility to be reduced to zero and Kaizen will issue 32.2 million common shares to HPX Source text for Eikon: