Sirona Biochem Corp. (TSXV:SBM) announced a non-brokered private placement of 12% unsecured transferable convertible notes for gross proceeds of CAD 600,000 on January 31, 2017. The notes carry a coupon of 12% per annum payable quarterly, until the notes are converted or repaid. Each note is convertible at holder’s option into common shares of the company at an exercise price of CAD 0.18 per share during the 18 month term of the notes. The securities issued will be subject to hold period of four months from the date of issue. The transaction is subject to customary conditions, including TSX Venture Exchange acceptance.