EXHIBIT 10.1
 
REDEMPTION NOTICE
Series 2 Class B Common Stock (Par Value $0.00001)
  

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CARDIOGENICS HOLDINGS INC.
6295 Northam Drive, Unit 8 • Mississauga Ontario L4V 1W8
T: 905.673.8501 • F: 905.673.9865
redemption @cardiogenics.com

February 25, 2011
 

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To:
The Holders of CardioGenics Holdings Inc. Series 2 Class B Common Stock (“Series
2 CL B Shares”)

 

This will serve as notice that CardioGenics Holdings Inc. (the “Company”) hereby
redeems all issued and outstanding Series 2 Class B Shares of the Company as
follows:

REDEMPTION PRICE:
 
$0.00001
     
REDEMPTION DATE:
 
April 4, 2011
     
SURRENDER INSTRUCTIONS:
 
Holders of the Series 2 CL B Shares shall surrender certificates representing
their Series 2 CL B Shares to the Company at the following address:
 
CardioGenics Holdings Inc.
6295 Northam Drive, Unit 8
Mississauga, Ontario L4V 1W8 Canada
Attention: Series 2 CL B Redemption
     
DIVIDENDS:
 
Dividends on Series 2 CL B Shares shall cease to accumulate on the day prior to
the Redemption Date unless the Corporation defaults in the payment of the
Redemption Price. To date, no dividends have been declared with respect to the
Series 2 CL B Shares.
     
TRUST ACCOUNT:
 
In accordance with the Certificate of Designation for the Series 2 Class B
Shares, the Company has elected to establish a trust account with TD BANK
CANADA, in which it will deposit, prior to the Redemption Date, all funds
necessary for the redemption of the Series 2 CL B Shares, which funds shall be
held in trust for the pro-rata benefit of the holders of the Series 2 CL B
shares redeemed under this notice.
     
TERMINATION OF RIGHTS:
 
  
Notwithstanding that any certificate for Series 2 CL B Shares called for
redemption hereunder shall not have been surrendered for cancellation, all
Series 2 CL B Shares so called for redemption shall no longer be deemed
outstanding, and all rights with respect to such Series 2 CL B Shares shall
forthwith on the Redemption Date cease and terminate, except only the right of
the holders thereof to receive the pro-rata amount payable on redemption of the
Series 2 CL B Shares, without interest.

CARDIOGENICS HOLDINGS INC.

By: 
     
Yahia Gawad, Chief Executive Officer
 

 
 

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