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Chai-Na-Ta Corp. Proposes Issuance of Preferred Shares for Debt.

Publication: Business Wire
Publication Date: 29-MAR-06
Format: Online
Delivery: Immediate Online Access

Article Excerpt
RICHMOND, British Columbia -- Chai-Na-Ta Corp. (the "Corporation") (TSX:CC)(OTCBB:CCCFF), the world's largest supplier of North American ginseng, announces that it has entered into an agreement with More Growth Finance Ltd. ("More Growth") pursuant to which approximately $3.5 million in loans made to the Company by More Growth (the "Loans") together with accrued interest will be cancelled in exchange for the issuance to More Growth of approximately 17,990,000 Preferred Shares, Series 2 of the Corporation ("Preferred...

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