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Radient Pharmaceuticals Corporation Receives $500,000 in New Capital
Date:12/1/2011

TUSTIN, Calif., Dec. 1, 2011 /PRNewswire/ -- Radient Pharmaceuticals Corporation (the "Company") (OTCQX:RXPC), a developer and marketer of the Onko-Sure® In Vitro Diagnostic (IVD) cancer test, announced that all of the holders of its Series B Warrants have exercised such warrants as compelled by the terms thereof, for 50,000 shares of Series C Convertible Preferred Stock of the Company in the aggregate. The aggregate exercise price for all of the 50,000 shares was $500,000, and such capital was received by Radient on November 30, 2011. After paying legal fees associated with the restructuring transactions described in the Current Report on Form 8-K that we filed on November 29, 2011, we received net proceeds of  $435,000.

Further details relating to this exercise are described in a December 1, 2011, Current Report on Form 8-K filed by the Company with the SEC.

In addition to the Series B Warrant exercises, in connection with its restructuring of the Company's convertible notes and preferred stock announced in a press release dated November 29, 2011 (the terms of which are set forth in the Company's Form 8-K filed with the SEC on November 29, 2011), the Company issued to the 2011 Noteholders its Series A Warrants entitling the holders to purchase shares of the Company's common stock.  Subject to certain conditions, including our registration under the Securities Act of 1933, as amended, of all or an agreed upon portion of the common stock issuable upon exercise of the Series A Warrants, if fully exercised for cash by the Series A Warrant holders, the Company could receive as much as $17 million in additional capital.  There can be no assurance that any of such Series A Warrants will be exercised by the holders for cash.

"Receipt of this capital coupled with the potential for additional capital in the future, definitely helps the Company in the short term and provides a potential long term path for Radient to ga
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SOURCE Radient Pharmaceuticals Corporation
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