Audiotech Healthcare has arranged a private placement of 445 $1,000 convertible debentures to nine investors to raise a total of $445,000. The convertible debentures accrue interest at 10 per cent CSA, and are payable in blended monthly payments of principal and interest based upon a 20-year amortization period, and mature two years from the date of issue. The debentures are convertible at the option of the holder at any time before the maturity date at a conversion price of 30 cents per share.

The convertible debentures are a direct, unsecured obligation of the company, ranking subordinate to all senior indebtedness.

The private placement is subject to the acceptance of the TSX Venture Exchange.