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:5/3/2016)... (PRWEB) , ... May 03, 2016 , ... ... general availability of the latest release of DocAve 6 Service Pack (SP) ... helps organizations migrate to SharePoint 2016 and take advantage of the platform’s latest ...
(Date:5/3/2016)... , ... May 03, 2016 , ... Finding the right way to address a patient’s ... healthcare industry is now getting on board. , “You do the right thing, at the ... of care goes down, not up,” said Leonard M. Fromer, MD, FAAFP, from Group Practice ...
(Date:5/3/2016)... ... May 03, 2016 , ... The new web-based solution ... small physician practices, to better grasp and implement HIPAA’s privacy, security, and data ... on a well-defined, expert-created path to compliance. HIPAA Institute has positioned itself to ...
(Date:5/3/2016)... ... May 03, 2016 , ... The American Medical Informatics Association ... of the National Coordinator for Health IT (ONC) with qualified support for officials ... suspending and terminating certifications issued to Complete EHRs and Health IT Modules. The ...
(Date:5/2/2016)... , ... May 02, 2016 , ... ... a residential inpatient rehabilitation center can find some useful information in a new ... in Central Michigan. This video, which can be viewed on the Serenity Recovery ...
Breaking Medicine News(10 mins):
(Date:4/29/2016)... April 29, 2016 ... Financier Sanofi, leader mondial ... ses résultats pour le premier trimestre ... Jérôme Contamine, commente les résultats du ... perspectives pour le reste de l,année. ...
(Date:4/28/2016)... NEW YORK , April 28, 2016 /PRNewswire/ ... will notably complement the company,s valve repair and ... the move also places Abbott more firmly into ... one of the fastest growing device areas, with ... to its recent report,  Advanced Remote Patient ...
(Date:4/28/2016)...  The blood testing market in China ... Information and The Freedonia Group in a recent report.  ... The healthcare research firm said that China ... stations and in improving testing at the provincial level.  ... Blood Testing Market in China , which ...
Breaking Medicine Technology: