Feb 29 (Reuters) - Openlearning (OLL) :
- CONVERTS DEBT TO EQUITY AND INCREASES LOAN FACILITY WITH EDUCATION CENTRE
- ELECTED TO CONVERT OUTSTANDING DEBT TO ECA, WILL CONVERT INTO SHARES AT PRICE OF 2.0 AU CENTS
- EDUCATION CENTRE OF AUSTRALIA AGREED TO MAKE A$2 MILLION AVAILABLE UNDER FACILITY TO SUPPORT CO'S OPERATIONS
- WILL EXTINGUISH A$3.105 MILLION CURRENTLY OUTSTANDING DEBT OBLIGATIONS TO ECA
- ALONGSIDE CONVERSION, ECA AGREED TO INCREASE CURRENT LOAN FACILITY ALLOWING CO TO DRAW DOWN A FURTHER A$2 MILLION
News: OLL Openlearning Says Converts Debt To Equity
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