Viscount Systems Fully Retires Convertible Promissory Note

VANCOUVER, BC / ACCESSWIRE / June 30, 2015 / Viscount Systems, Inc. (“Viscount”) (OTCQB:VSYS), a software company specializing in physical and logical security solutions, today announced that it has fully retired a convertible note held by Vis Vires Group, Inc. The convertible promissory note was issued to Viscount on March 30, 2015 at a principal amount of $169,000 bearing interest at 8% per annum and was used to resolve short term liquidity issues. By redeeming the note prior to the expiration of its prepayment period, the note is now paid in full and will not be converted into shares of Viscount common stock.

“The advanced payment of this note simplifies our debt structure and minimizes shareholder dilution,” said Dennis Raefield, Viscount’s CEO. “We are pleased to have paid off this convertible note out of our operating funds and are very excited about the direction that Viscount is moving in.”

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About Viscount

Viscount is the leading provider of next generation, IT-centric access control and identity management applications. Viscount’s Freedom application platform allows seamless unification of the physical and digital security worlds by replacing discrete, self-contained systems with an integrated security system that is sophisticated enough to protect today’s critical business assets, and flexible enough to keep up with the evolving IT infrastructures of government and private organizations. For more information please visit: www.viscount.com.

Safe Harbor Statement

Forward looking statements: This press release and other statements by Viscount Systems, Inc. may contain forward-looking statements with respect to the outlook for earnings and revenues, other future financial or business performance, strategies and expectations. Forward-looking statements are typically identified by words or phrases such as “believe,” “expect,” “estimate,” “position,” “assume,” “potential,” “outlook,” “continue,” “remain,” “maintain,” and similar expressions, or future or conditional verbs such as “will,” “would,” “should,” “could,” or similar expressions.

Contact

Allison Monat / Elizabeth Barker
viscount@kcsa.com
212-682-6300

SOURCE: Viscount Systems, Inc. 

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