Navigation Links
Oxygen Biotherapeutics, Inc. Announces Private Placement Financing Agreement and Offer to Acquire Warrants
Date:6/8/2009

COSTA MESA, Calif., June 8 /PRNewswire-FirstCall/ -- Oxygen Biotherapeutics, Inc. (OTC Bulletin Board: OXBO) today announced that the company has signed a securities purchase agreement and commenced an offer to acquire outstanding common stock purchase warrants. The shares of the company's common stock that are issued in the transactions described below will not be registered under the Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements. For additional information on the transactions described below, please see our Current Report on Form 8-K filed with the SEC on June 8, 2009, which is available on the SEC website at www.sec.gov and through the investor relations page of the company website at www.oxybiomed.com.

Securities Purchase Agreement

Oxygen Biotherapeutics has signed a securities purchase agreement with Vatea Fund, Segregated Portfolio, an investment fund incorporated in the Cayman Islands. Under the agreement, Vatea Fund has agreed to purchase on July 10, 2009, 20 million shares of our restricted common stock for $5 million. The agreement establishes milestones for the achievement of product development and regulatory targets and other objectives, after which Vatea Fund is required to purchase additional shares of common stock at a price of $0.25 per share. Assuming all milestones are achieved, if less than 60 million outstanding common stock purchase warrants of Oxygen Biotherapeutics are acquired pursuant to the exchange offer described below, Vatea Fund is obligated to purchase 40 million additional shares for $10 million, but if more than 60 million warrants are acquired, Vatea Fund is obligated to purchase 60 million additional shares for $15 million.

Warrant Exchange Offer

On June 8, 2009, Oxygen Biotherapeutics commenced a limited offering to approximately 77 persons who hold 120,431,920 of our common stock purchase warrants to exchange the warrants for cash and restricted common stock of Oxygen Biotherapeutics. There is no minimum total number of warrants that must be offered for exchange to Oxygen Biotherapeutics by the holders. All offers for exchange must be delivered to Oxygen Biotherapeutics on or before July 9, 2009. Oxygen Biotherapeutics does not expect that it will accept for exchange more than approximately 80 million warrants due to budgetary constraints. Nevertheless, we reserve the right to accept and exchange all warrants offered, even if more than 80 million. For all but 2.7 million of the warrants we are offering to exchange for each warrant $0.04 in cash and one-half (1/2) share of restricted common stock. For the remaining 2.7 million warrants we are offering to exchange for each warrant $0.001 in cash and one-quarter (1/4) share of restricted common stock.

Caution Regarding Forward-Looking Statements

This news release contains certain 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 plans to buy back outstanding warrants and milestones for future investment by Vatea Fund. Actual events or results may differ from Oxygen Biotherapeutics's expectations. There can be no assurance that holders of outstanding warrants will agree to sell them to the company on the terms offered or that the company will achieve the milestones required to receive additional funds from Vatea Fund. Additional information concerning these and other risk factors affecting Oxygen Biotherapeutics's 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. Oxygen + MRI might help determine cancer therapy success, researchers find
2. Hummingbird Coaching Partners with Leeza's Place to Help Caregivers “Take Your Oxygen First”
3. Long-term study shows low oxygen levels in prostate tumors can predict recurrence
4. Oxygen Biotherapeutics, Inc. Signs Cooperative Research and Development Agreement With Naval Medical Research Center and Walter Reed Army Institute of Research
5. Oxygen Biotherapeutics, Inc. Files Cosmetic Product Ingredient Statement for new Oxycyte-based Cosmetic Gel
6. Turtle Island Oxygen Trust Sponsors Free Hyperbaric Treatments
7. G & G Holistic Addiction Treatment Uses Innovative Use of Oxygen Therapy Which Restores Mind and Body in Drug Rehab
8. Octi-Flo2™ - 8 Patient Portable Oxygen Delivery System
9. House Republican Leader Boehner Says CMS Policies on Home Oxygen Therapy Will Potentially Harm Care Available to Medicare Beneficiaries
10. Oxygen Biotherapeutics, Inc. Establishes Warfighter Division
11. Ozone/Oxygen Shot Helps Heal Herniated Disk
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:12/9/2016)... ... 2016 , ... Mediaplanet today announces distribution of the latest edition of “Transplants,” ... up as an organ donor for the 123,000 people in the United States who ... save up to 8 saves through organ donation and enhance many others through tissue ...
(Date:12/8/2016)... ... December 08, 2016 , ... The ... beginning January 1, 2017. The name change aligns the entire company with ... improving health care quality. , “We are very proud of the achievements associated ...
(Date:12/8/2016)... N.Y., and JENNERSVILLE, Pa. (PRWEB) , ... December ... ... announce that Penn Medicine Southern Chester County, a Property owned by an affiliate ... $23 million, 72,000 square foot Penn Medicine Southern Chester County ambulatory care center ...
(Date:12/8/2016)... ... ... Premier Fitness Camp (PFC) and The Chopra Center for Wellbeing announced today the ... their world headquarters of Omni La Costa Resort & Spa in San Diego. , ... loss, personal development, a healthy lifestyle, or mental and physical healing. The week-long wellness ...
(Date:12/8/2016)... ... 2016 , ... STAT courier is pleased to announce that due to customer ... are expanding their presence in Dallas. One of the most exciting parts for STAT ... to the Dallas and Forth Worth market. STAT takes pride in treating their employees ...
Breaking Medicine News(10 mins):
(Date:12/8/2016)... -- KEY FINDINGS North America ... in 2016 and is expected to continue in the ... large number of surgical procedures that are taking place ... the patient temperature management market.) Patient warming and cooling ... blood during surgeries, lowering the risks of neurological disorders ...
(Date:12/8/2016)... -- Allergy Diagnostics Market: Scope and Methodology ... used to determine the presence of allergens such ... in the samples by determining the presence of ... on global allergy diagnostics market, analyzes the current ... consists of an executive summary that provides information ...
(Date:12/8/2016)... 8, 2016 Research and Markets has announced the addition ... their offering. ... This report analyzes the worldwide markets for Endodontic Supplies in US$ ... , Japan , Europe , ... World. Annual estimates and forecasts are provided for the period 2015 ...
Breaking Medicine Technology: