The Caisse de dépôt et placement du Québec acquires a convertible debenture issued by MonoGen inc.

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The Caisse de dépôt et placement du Québec (the ”Caisse“) announces that it has purchased, by way of private placement, a CDN $7 million, 8% senior unsecured convertible debenture (the “Debenture“) issued by MonoGen inc. (TSX: MOG) (“MonoGen“ or the ”Company”). The Debenture will mature on the earlier of (i) June 17, 2009, (ii) the closing date of a public offering or private placement described in the next paragraph, subject to extension and certain other customary conditions. The Debenture is mandatorily convertible into MonoGen’s common shares (and warrants, if any) on the closing date of a public offering or private placement of MonoGen common shares in excess of an agreed threshold. The conversion price will be equal to the purchase price paid per MonoGen common share (and warrant, if any) in that public offering or private placement, if any. The exact number of common shares issuable by MonoGen upon conversion of the Debenture is not determinable, given the fact that the conversion price of the Debenture depends on the terms of public offering or private placement, if any, on wich the conversion is contingent. The Debenture and any common shares and other securities issued on conversion are subject to resale restrictions for four months from September 17, 2008. Before this transaction, the Caisse held 20,598,545 common shares or 10.69% of such shares outstanding and 2,000,000 warrants exercisable into 2,000,000 common shares of MonoGen, at a price of CDN $1.40 per share, for a period of two years following April 16, 2008. If the Caisse were to exercise its privilege with respect to the warrants it already owns, its holding would represent a total of 22,598,545 common shares of MonoGen, or 11.60% of such shares outstanding, on a partially diluted basis, as of September 16, 2008. This transaction was made for investment purposes and the Caisse could increase or decrease its investment in MonoGen, depending on market conditions or any other relevant factor. false false false