Amarium Technologies, Inc. (OTCPK:AMMG) announced a private placement of one unsecured convertible debenture for gross proceeds of $3,200,000 on August 19, 2013. The transaction included participation from new investor Westin Korrin Capital Investment Inc. The debenture is convertible into common shares of the company at a conversion price of $0.30 per share for a period of 24 months from the date of issuance. The debenture carries an interest rate of 6.5% per annum and will mature in five years.

On August 19, 2013, Amarium Technologies, Inc. closed the transaction.