Navigation Links
Oxygen Biotherapeutics, Inc. Announces Closing of Offer to Acquire Warrants
Date:7/20/2009

DURHAM, N.C., July 20 /PRNewswire-FirstCall/ -- Oxygen Biotherapeutics, Inc. (OTC Bulletin Board: OXBO) today announced that the company has closed its proposed acquisition of outstanding common stock purchase warrants.

The company acquired and cancelled 52.2 million common stock purchase warrants with an exercise price of $0.247 per share and an additional 18.7 million warrants with an exercise price of $0.245 per share, or a total of 70.9 million warrants. Prior to the transaction there were 121 million warrants outstanding, so the transaction reduces that number to 49.1 million common stock purchase warrants now outstanding. In exchange for the cancelled warrants the company issued to the holders 35.5 million shares of restricted common stock and paid to them $2.8 million in cash.

"The closing of the new financing by the Vatea Fund and the exchange of the warrants marks an enormous leap towards positioning our company for attracting and obtaining future financings that are necessary to support our product development," said Chris Stern, Oxygen Biotherapeutics, Inc. chairman and CEO. "We are glad to have a financing arrangement in place with Vatea Fund that provides the means, after achieving specific milestones, to finance our future growth and development plans. We have significantly improved our working capital position which will enable us to advance the product development programs we have in place and consider a move to a major stock exchange."

The securities purchase agreement with Vatea Fund, assuming all milestones are achieved in a timely manner, provides for Vatea Fund to purchase an additional 60 million shares of the company's stock for a total purchase of 80 million shares for $20 million in cash.

For additional comments by Chris Stern on the investment by Vatea Fund, please see his latest blog and the video posted on the company website at www.oxybiomed.com.

About Oxygen Biotherapeutics, Inc.

Oxygen Biotherapeutics, Inc. is dedicated to commercializing innovative pharmaceuticals and medical devices in the field of oxygen therapeutics and Defense Medicine(TM). The company has under development a perfluorocarbon (PFC) therapeutic oxygen carrier and liquid ventilation product (Oxycyte(R)) and has out-licensed an implantable glucose sensor. These products are based upon core technologies that include biomedical applications for PFCs as well as medical and industrial applications for biosensors. Each of the product candidates is designed with advantages over currently marketed products in major markets including traumatic brain injury, sickle cell crisis pain, trauma, wound care, decompression sickness, acute respiratory distress syndrome, stroke, myocardial infarction, surgery, diabetes and cosmetic applications. More information is available at www.oxybiomed.com.

Caution Regarding Forward-Looking Statements

This news release and the video referenced in this news release, which is posted on the company website, contain forward-looking statements by Oxygen Biotherapeutics, Inc. that involve risks and uncertainties and reflect the company's judgment as of the date of this release. These statements include those referring to use of the money received from Vatea Fund and steps to move the company stock listing to a major exchange. Actual events or results may differ from Oxygen Biotherapeutics' expectations. There can be no assurance that the funds received will be sufficient for the company's growth and development plans or that the company will be successful in moving the stock listing to a major exchange. Additional information concerning these and other risk factors affecting Oxygen Biotherapeutics' business can be found in the company's public report filings with the Securities and Exchange Commission, which are available on the SEC website at www.sec.gov and through our website at www.oxybiomed.com. Oxygen Biotherapeutics disclaims any intent or obligation to update these forward-looking statements beyond the date of this release. This caution is made under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995.


'/>"/>
SOURCE Oxygen Biotherapeutics, Inc.
Copyright©2009 PR Newswire.
All rights reserved

Related medicine news :

1. Home Oxygen Patients and Family Members Visit Capitol Hill to Ask Congress to Protect Medicare Home Oxygen Therapy Benefit
2. Congressmen Mike Ross and Kendrick Meek Introduce Bill to Protect Medicare Patients Who Require Medical Oxygen Therapy at Home
3. National Advocacy Organization Representing Home Oxygen Patients Praises Introduction of Medicare Home Oxygen Therapy Act
4. Oxygen Biotherapeutics, Inc. Announces Private Placement Financing Agreement and Offer to Acquire Warrants
5. Oxygen + MRI might help determine cancer therapy success, researchers find
6. Hummingbird Coaching Partners with Leeza's Place to Help Caregivers “Take Your Oxygen First”
7. Long-term study shows low oxygen levels in prostate tumors can predict recurrence
8. Oxygen Biotherapeutics, Inc. Signs Cooperative Research and Development Agreement With Naval Medical Research Center and Walter Reed Army Institute of Research
9. Oxygen Biotherapeutics, Inc. Files Cosmetic Product Ingredient Statement for new Oxycyte-based Cosmetic Gel
10. Turtle Island Oxygen Trust Sponsors Free Hyperbaric Treatments
11. G & G Holistic Addiction Treatment Uses Innovative Use of Oxygen Therapy Which Restores Mind and Body in Drug Rehab
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:1/20/2017)... ... ... examination of how God handles sin, including how to let go of lingering guilt and ... ten long years has been waiting to release this powerful insight about forgiveness that the ... the Lord for over twenty years, and he has been preaching and teaching the Word ...
(Date:1/20/2017)... ... January 20, 2017 , ... “The Land of More and More”: ... issue of world hunger, and shares the simple and achievable answer. “The Land of ... member of the Fairview Missionary Church in Angola, Indiana where he works with the ...
(Date:1/19/2017)... ... January 19, 2017 , ... Wells ... facility enhancement of their 503A compounding pharmacy located in Ocala, Florida. , ... physicians and patients throughout the United States for high-quality human anti-aging and ...
(Date:1/19/2017)... , ... January 19, 2017 , ... ... telemedicine solutions, has recently unveiled impressive transportable capabilities with their iMedHD2™ Portable ... is an extension to RMT technology that delivers HD, dynamic, streaming ultrasound images ...
(Date:1/19/2017)... ... January 19, 2017 , ... MB Business Capital, ... $11,250,000 senior credit facility to Sunrise, Florida-based Management Health Systems, LLC, dba MedPro ... facilitate a recapitalization of MedPro led by Harren Equity Partners. Brightwood Capital ...
Breaking Medicine News(10 mins):
(Date:1/19/2017)... ALTO, Calif. , Jan. 19, 2017   ... research, is excited to announce that the first ... Cancer Biology  (RP:CB) have been published in eLife ... this project represents the first practical evaluation of ... result in reproducible studies. Unlike other assessments of ...
(Date:1/19/2017)... Marks E-QURE , s 3 ... agreements in Israel and Argentina ... billion global market ... devices for the treatment of advanced wound care, announced today it signed a ... Colombia for the Company,s patented Bio-electrical Signal Therapy device ("BST Device"), ...
(Date:1/19/2017)... The drug delivery technology market is projected ... 1,179.20 billion in 2016, at a CAGR of 7.2% ... diseases, increasing demand for biologics, technological advancements, and new ... this market. Whereas, self-administration & home care and rising ... opportunities for players operating in this market. On the ...
Breaking Medicine Technology: