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Press Room
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SGF increases its stake in Æterna Zentaris Inc.
Montréal, February 17, 2006 — Société générale de financement du Québec (SGF) has cast a new vote of confidence in Québec-based biopharmaceutical firm Æterna Zentaris.
SGF announced today it has availed itself of its right to convert, before maturity, the entire $12.5-million convertible term loan it had granted Æterna in April 2003, and which was due to mature March 31, 2006. Pursuant to the terms and conditions of the loan as well as further agreements, Æterna issued a total of 3,477,544 common shares to SGF at the time of conversion, representing the principal amount and interest, at the conversion price agreed upon in the loan agreement.
The share capital held by SGF, via a subsidiary company, thus increases from 10.75% to 16.59%. The number of shares held by SGF now stands at 8,810,878, as compared to the 5,333,334 shares held before conversion.
“We are confident in the growth potential of Æterna,” said André Archimbaud, Senior Vice-President, Investments, Life Sciences, SGF. “Æterna now has the right array of tools to maximize asset value and move into international markets.”
Æterna Zentaris Inc. is a growing global biopharmaceutical company engaged in the discovery, development and marketing of therapies for cancer and endocrine disorders.
SGF is proud to be associated with this growing company. In keeping with its mission, SGF invests development capital that enables its partners to reach the critical mass required to boost their market shares. In so doing, SGF contributes to sustainable economic development for Quebec.
Société générale de financement du Québec (SGF) is an industrial and financial holding company with head office at 600 de la Gauchetière Street West, Suite 1500, Montréal. Its mission is to carry out economic development projects, especially in the industrial sector, in cooperation with partners and in accordance with accepted requirements for profitability and the Government of Québec’s economic development policy.
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Source:
Marie-Claude Lemieux
Senior Advisor, Communications
Société générale de financement du Québec
Tel.:
Cell.:
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