|By Marketwired .||
|May 16, 2014 04:31 PM EDT||
WINNIPEG, MANITOBA -- (Marketwired) -- 05/16/14 -- Miraculins Inc. (TSX VENTURE:MOM) ("Miraculins" or the "Company"), a medical diagnostic company focused on acquiring, developing and commercializing diagnostic and risk assessment technologies for unmet clinical needs, announces that it has entered into amending agreements to extend its CDN$1,000,000 nonconvertible secured loan with Gretchen Ross (the "2011 Lender") that was originally announced on October 13, 2011 and previously extended on December 23, 2013, and to extend its CDN$611,334 nonconvertible secured loan from a third party lender (the "2013 Lender") that was originally announced on December 23, 2013.
The loans have been extended and will now mature on December 31, 2015. The loans will continue to bear interest at 12% per annum and the interest will accrue until December 31, 2015.
As consideration for the extension of the loans, the Company will, subject to regulatory approval, issue 500,000 common shares to the 2011 Lender and 500,000 common shares to the 2013 Lender.
All of the shares to be issued to the 2011 Lender and the 2013 Lender will be subject to resale restrictions for a period of four months from the date of issuance under applicable securities legislation.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.