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Oxygen Biotherapeutics, Inc. Announces 1:15 Reverse Stock Split to Take Effect Nov. 9, 2009
Date:11/6/2009

DURHAM, N.C., Nov. 6 /PRNewswire-FirstCall/ -- Oxygen Biotherapeutics, Inc. (OTC Bulletin Board: OXBO) today announced that a previously approved reverse split of its common stock will take effect at the start of trading on Monday, Nov. 9, 2009 on a 1-for-15 split-adjusted basis. Oxygen Biotherapeutics, Inc. shares will trade under the new symbol OXBT. The stock also will have a new CUSIP number, 69207P 20 9, when the split becomes effective.

"This reverse split was overwhelmingly approved by our shareholders in support of our plan to move the listing of our shares to a major exchange from the over-the-counter bulletin board," said Chris Stern, company chairman and CEO. "We believe that moving the listing will enhance the liquidity of our shares and improve our ability to attract new investors as we move ahead with our product development plans. We have filed the application to move our listing and will be working to facilitate and execute the listing move as fast as the stock exchange will allow us to do it. I'll have some additional comments on this in a blog posting on our company website later today."

The 1-for-15 reverse stock split will automatically convert 15 current shares of Oxygen Biotherapeutics, Inc. common stock into one new share of common stock. If the number of shares is not evenly divisible by the ratio of the reverse split, the shareholder's new share count will be rounded up to the nearest whole share. The reverse split, which was approved by shareholders on October 19, 2009, will reduce the number of outstanding shares of common stock from 293,985,804 to approximately 19,599,676.

Furthermore, the number of shares of common stock subject to outstanding stock options, warrants, or convertible securities, and the exercise prices and conversion ratios of those securities, will automatically be proportionately adjusted for the 1 to 15 ratio provided for by the reverse stock split. The number of authorized
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SOURCE Oxygen Biotherapeutics, Inc.
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