Navigation Links
Pacific Biometrics Completes $4 Million Debt Financing
Date:9/21/2009

SEATTLE, Sept. 2 /PRNewswire-FirstCall/ -- Pacific Biometrics, Inc. (OTC Bulletin Board: PBME), a leading provider of specialized reference laboratory and contract research services, today announced the Company's entry into a Loan and Security Agreement with Terry M. Giles, providing for a $4 million loan (the "Loan") to the Company. In connection with, and as required by the Loan, on August 31, 2009, the Company also repurchased 2,391,906 shares of common stock from certain stockholders at a price of $0.70 per share. These shares will be retired to the Company's treasury. The Company received net Loan proceeds of approximately $2,325,666, after payment for the stock repurchase but excluding legal and other expenses for the transaction. Also effective August 31, 2009, Mr. Giles resigned from the Company's Board of Directors.

"We are very pleased that Terry Giles, who has served on our Board of Directors since September 2003, has agreed to provide financing for the Company to fund our working capital and growth needs, in particular our development efforts involving the biomarker services business," stated Ron Helm, Chief Executive Officer of Pacific Biometrics, Inc. "We believe the terms of the Loan are more favorable than we could have obtained from other sources, and the financing allowed us to avoid the dilution to stockholders that would have resulted from an equity-based financing at the current price of our stock. In light of the Director conflict of interest created by this Loan agreement, Mr. Giles agreed to resign from our Board. On behalf of management and the Board of Directors, I would like to thank Mr. Giles for his long-standing service as a Director and for his continuing support of the Company and its growth potential."

The four-year Loan, which bears interest at a fixed rate of 12% per annum, provides for eight monthly interest-only payments, followed by
'/>"/>

SOURCE Pacific Biometrics, Inc.
Copyright©2009 PR Newswire.
All rights reserved

Page: 1 2 3 4 5

Related biology news :

1. New project to forecast toxic algal blooms on Pacific Northwest beaches
2. AAAS Pacific division scientific conference to meet in San Francisco Aug. 14 - 19
3. Pacific Northwest forests could store more carbon, help address greenhouse issues
4. Scientists urge world leaders to respond cooperatively to Pacific Ocean threats
5. Invasives threaten salmon in Pacific Northwest
6. Smithsonian puts tropical eastern Pacific shore fishes online
7. Smithsonian puts tropical Eastern-Pacific shore fishes online
8. Eastern Pacific tuna hang in the balance
9. Scientists achieve first tracking of salmon from headwaters in Rockies through Pacific to Alaska
10. Similar survival rates for Pacific salmon in Fraser, Columbia Rivers raises new questions
11. British scientists go cloud-hopping in the Pacific to improve climate predictions
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:12/17/2014)... DUBLIN , Dec. 15, 2014 Research and Markets ... of the "Samsung Galaxy S5 - Home Button ... offering. http://photos.prnewswire.com/prnh/20130307/600769 ... the iPhone 5S, Samsung introduces for the first time ...
(Date:12/17/2014)... , Dec. 16, 2014  Automation is fundamentally transforming ... than at international borders. Over the past decade, ePassports, ... travelers to self process through border control via eGates ... number of airports, seaports, and land borders across the ...
(Date:12/11/2014)... ST. PAUL, Minn. , Dec. 10, 2014 ... wireless physiologic monitoring, has released a new series ... needs of preclinical toxicology researchers. M series, part ... help toxicologists collect the best possible physiologic data ...
Breaking Biology News(10 mins):Samsung Galaxy S5 - Home Button Synaptics Fingerprint Sensor Technology Analysis 2Automated Border Control (ABC) Transforms the Global Travel Experience With More Than 2500 ABC eGates and APC Kiosks Deployed In Airports, Seaports, and Land Borders Worldwide 2New telemetry implants expected to change how large animal toxicology studies are conducted 2
... DALLAS Nov. 16, 2009 As the number of ... "swine flu," continues to rise, researchers have been scrambling to ... lower than expected in older adults. In ... Proceedings of the National Academy of Sciences , a ...
... With 900,000 assisted reproduction treatments annually such as ... to screen both partners before each treatment could lead ... figures do not include the additional overhead costs such ... have to carry on top of that. The new ...
... been awarded nearly $3 million in federal stimulus funds ... Lindsay and Paul Westerhoff will lead a pair of ... fields of rapid DNA sequencing and the potential health ... & Reinvestment Act of 2009 ("Recovery Act" or "ARRA"), ...
Cached Biology News:UT Southwestern scientist begins to unravel what makes pandemic H1N1 tick 2UT Southwestern scientist begins to unravel what makes pandemic H1N1 tick 3Statement of ESHRE on the European Commission proposal of viral screening 2ASU research efforts to improve human health will get $3 million in federal stimulus grants 2ASU research efforts to improve human health will get $3 million in federal stimulus grants 3
(Date:1/22/2015)... BOSTON , Jan. 22, 2015  Transwestern | RBJ today ... feet of office space for Shire a leading biopharmaceutical company, ... . Transwestern | RBJ,s Robert Richards , president, and ... the lease for the entire five-floor building at 95 Hayden ...
(Date:1/22/2015)... 2015 Crystal Diagnostics (CDx) Xpress System, a ... received AOAC-PTM Certifications for the six non-O157 Shiga toxin-producing E. ... referred to as STEC or the “Big-6”) as well as ... (cfu) per 325 g of raw ground beef and raw ...
(Date:1/22/2015)... Controlled Substance Compliance Services (CSCS), a ... check the legal requirements around using controlled substances in ... , As their international operations expand and become increasingly ... built as a result of the first phase of ...
(Date:1/22/2015)... , Jan. 22, 2015   Cypher Genomics, ... Sequenom, Inc. (NASDAQ: SQNM ), the ... agreement for next generation noninvasive prenatal tests (NIPT). ... interpretation technology, called Mantis™, to advance analysis of ...
Breaking Biology Technology:Transwestern?RBJ Advises Shire in 202,000 SF Lease, Creating Boston's Largest Suburban Biotech Campus 2Crystal Diagnostics Awarded AOAC-PTM Accreditation for the Rapid Detection of “Big 6” E.coli Food Pathogens 2Global Compliance Service for Controlled Substances to Expand to China 2Cypher Genomics and Sequenom Announce Development Agreement 2Cypher Genomics and Sequenom Announce Development Agreement 3Cypher Genomics and Sequenom Announce Development Agreement 4
... YM BioSciences Inc.,(AMEX: YMI , TSX: YM, ... commercializes differentiated products for patients worldwide,today announced that ... development of the humanized EGFR-targeting monoclonal antibody,nimotuzumab, has ... to commence in Europe. - ...
... 20 The MattsonJack Group, Inc.,(MattsonJack), is pleased ... M.P.H. to Medical Director for MattsonJack. (Photo: ... in September 2000 as a consultant and,Assistant Medical ... the,University of Missouri -- Kansas City. He subsequently ...
... The Chrome Group today announced its,plans to seek ... on trading,platforms in Europe and the Middle East. In ... Officer, Mr. Val Oji said that "this,was part of ... the next two years. Chrome recently signed a Memorandum,of ...
Cached Biology Technology:YM BIOSCIENCES', EUROPEAN PARTNER, ONCOSCIENCE AG, ANNOUNCES INITIATION OF ADVANCED NIMOTUZUMAB TRIALS IN ADULT GLIOMA AND PANCREATIC CANCER 2YM BIOSCIENCES', EUROPEAN PARTNER, ONCOSCIENCE AG, ANNOUNCES INITIATION OF ADVANCED NIMOTUZUMAB TRIALS IN ADULT GLIOMA AND PANCREATIC CANCER 3YM BIOSCIENCES', EUROPEAN PARTNER, ONCOSCIENCE AG, ANNOUNCES INITIATION OF ADVANCED NIMOTUZUMAB TRIALS IN ADULT GLIOMA AND PANCREATIC CANCER 4Dr. Amit Dhawan Promoted to Medical Director for The Mattson Jack Group 2Dr. Amit Dhawan Promoted to Medical Director for The Mattson Jack Group 3Chrome Group to Seek Listing for Some of its Subsidiaries 2Chrome Group to Seek Listing for Some of its Subsidiaries 3Chrome Group to Seek Listing for Some of its Subsidiaries 4
Sigmas E-TOXATE (Limulus Amebocyte Lysate) test kits are intended for the detection and semiquantitation of endotoxins for research purposes. sensitivity 0.05-0.1 EU/mL...
This modular benchtop fume hood ventilates and purifies chemical fumes, allowing safe indoor release of exhaust. Bonded charcoal filters remove most organic contaminants. Options include final HEPA f...
... Ideal for biocompatibility testing at ... circulation of air through a clean ... internal temperature up to 140F. Transparent ... strip shields allow easy access to ...
... Note: Protein determined by Biuret. ... M (NH 4 ) 2 ... Preparation Note: Affinity purified • ... • Additives: MgCl 2 1 ...
Biology Products: