December 2, 2016 / 10:32 PM / in a year

BRIEF-Genenews announces proposed private placement of convertible debentures

Dec 2 (Reuters) - Genenews Ltd

* Genenews announces proposed private placement of convertible debentures

* Genenews Ltd- To complete brokered private placement of convertible unsecured debentures for gross proceeds of up to $3 million on a “best efforts” basis

* Genenews Ltd - Proceeds of sale of debentures will be used to repay current debt and payables, and to launch new products

* Genenews - Debentures will have a term of three years and bear interest at a rate of 8% per annum, payable semi-annually in arrears, in cash Source text for Eikon: Further company coverage:

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