Xytronyx Inc. has completed a private placement...

Xytronyx Inc. has completed a private placement of $500,000 in convertible subordinated notes bearing 8.5% interest. The one-year notes, which are callable by the company, are convertible at any time before maturity at $10 per share. The initial investors will also receive five-year warrants to purchase 50,000 Xytronyx shares at $12 a share.