Great Panther Silver Extinguishes Long Term Debt
GREAT PANTHER SILVER LIMITED (TSX: GPR; NYSE Amex: GPL; the “Company”) is pleased to announce that it has paid off $4,050,000 in two outstanding $2,025,000 Principal Amount 8% Unsecured Convertible Loan Notes due July 14, 2011 (the “Notes”) by the issuance of 1,800,000 fully paid common shares of the Company at the originally agreed upon conversion price of $2.25 per common share. Accrued interest will be paid in cash. The Notes were issued on July 13, 2007 to City Natural Resources High Yield Trust PLC and New City High Yield Fund Limited, British Isles-based Funds.