Ratings agency Moody’s has downgraded the Co-operative Bank’s debt rating to “junk” status.
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Vancouver, British Columbia – February 22, 2013 – Sirona Biochem Corp. (TSX-V: SBM, OTCQX:
SRBCF, Frankfurt: ZSB), (the “Company”) announced today a non-brokered private
placement of up to 27,000,000 units of the Company at a price of US$0.10 per
unit (each a “Unit”) for gross
proceeds of up to US$2,700,000 (the “Private
Placement”) led by U.S. Life Sciences Investor Moody Capital Solutions,
“Strong science coupled with
attractive unmet markets makes Sirona Biochem an excellent investment for us,”
said Tim Moody, President and Founder of Moody Capital. “We are impressed with
Sirona Biochem’s scientific programs and are confident in the commercial
potential of their compounds,” added Mr. Moody.
“Moody Capital has provided
funding for a number of successful life sciences companies and their support is
a testament to the value of our programs and technology platform,” said Sirona
Biochem Chief Executive Officer, Neil Belenkie. “We are thrilled by Moody
Capital’s enthusiasm for our technology and vision,” Mr. Belenkie added.
Each Unit will consist of one
common share of the Company (a “Share”)
and one transferable share purchase warrant (a “Warrant”).
Shares in the US credit rating agency Moody’s fall 7.7% in trading in New York on Friday amid fears of legal action surrounding rating agencies.
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