Aptilon Announces the Extension of the Repayment Period of the DMD Loan
MONTREAL, May 24, 2011 /PRNewswire/ - Aptilon Corporation ("Aptilon" or the "Company") (TSX-V: APZ), a leader in online access to, engagement and interaction with physicians and healthcare professionals on behalf of pharmaceutical and life sciences companies, today announced that its indirect wholly-owned subsidiaries, DMD Marketing LP and DMD Marketing Corp., have come to an agreement to extend the repayment period of the secured promissory note in the amount of US$27,200,000 issued in September 2009 in connection with the purchase of substantially all the assets of Direct Medical Data, LLC. and BLM Incorporated related to their healthcare marketing services. The original note provided for monthly installments, and a lump sum payment of approximately US$12,417,000 on Septemberá15, 2012.
The original note is replaced by a new secured promissory note in the amount of US$21,750,000, being the balance due under the original note as of Aprilá14, 2011. The new note bears interest at the rate of 6.9% per annum and is repayable in increasing monthly installments (ranging from US$226,000 for the first 9 months to US$600,000 for 11 of the last 12 months) from Aprilá15, 2011 until Decemberá15, 2015. It is secured and guaranteed in the same manner as the original note.
About Aptilon Corporation
Aptilon enables pharmaceutical, biotech and medical device companies to effectively reach, message, connect and interact with US physicians and healthcare professionals on the Internet and over mobile devices via multiple access channels. Its innovative service offerings provide targeted impressions and interactions through: video and mobile detailing, ReachNet?áPhysician Access Channel, the DMD database and permission-based email services. Top US pharmaceutical companies and respected healthcare organizations have adopted Aptilon's solutions to market to, engage and interact with leading healthcare practitioners. For more information, visit www.aptilon.com.
ReachNetSM is a service mark of Aptilon Corporation.
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SOURCE Aptilon Corporation