Biophan Technologies Inc.


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Biophan Technologies Inc. announced execution of a prepayment agreement with the holders of its senior debt. The prepayment agreement eliminates the remaining $2.3 million in senior debt that would have been paid by issuance of common stock, and cancelled warrants held by the note holders to purchase another 17 million shares of commons stock, in exchange for a cash payment of $2.15 million plus delivery of 18 million shares. The prepayment agreement leaves the Company with twelve months of cash available.