Inforetech Wireless, Augustine Fund Retire $1.25M in Convertible Debt

By | July 3, 2003 | Uncategorized

Inforetech Wireless Technology [BB: WYRE], a Vancouver, Canada-based supplier of GPS technology for the golf industry, has reached an agreement to retire $1.25 million in convertible debt obligations to Augustine Fund. The agreement also included provisions for the cancellation of the issuance of warrants, the final conversion of $350,000 into common stock with an escrow arrangement and $250,000 in forgiven debt, retiring any further commitments Inforetech has with Augustine.

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