Cipher Acquires Secured Convertible Debt Position in Positron

Cipher Holding announced that the company has acquired a secured convertible debt position in Positron, a U.S.-based publicly traded manufacturer of positron emission Tomography (PET) scanners from IMAGIN Diagnostics Centres, a Canadian corporation. Cipher Holding will issue 30 million common shares from its treasury for this transaction. Cipher will hold a convertible debt position that converts into an excess of 50 percent ownership of Positron.

Business Wire

(http://home.businesswire.com/portal/site/google/index.jsp?ndmViewId=news_view&newsId=20050419005641&newsLang=en)