OXIS International Receives $1 Million Funding Commitment to Support April Launch of Proprietary Product Line
Oxis International Inc.
21.03.2012 09:00
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OXIS Investors Show Confidence in New Management's Ability to Successfully
Begin Product Line Launch in Ap
BEVERLY HILLS, Calif., 2012-03-21 09:00 CET (GLOBE NEWSWIRE) --
OXIS International, Inc., (OTCBB:OXIS) (Paris:OXI), today announced that it has
received an additional $500,000 equity investment in the Company and a
commitment for an additional $500,000 in working capital to support the
Company's April product launch.
Under terms of the agreement investors purchased unsecured convertible
debentures at 12% interest. The conversion price is at $0.05 per share, a
premium to the current market price of OXIS shares. Investors also receive
warrants at $0.0625 and $0.075. 'We believe this important investment from our
investors represents an endorsement of our overall business strategy, our
proprietary EGT(tm) (L-ergothioneine) technology and the confidence from the
investors of the Company's ability to launch a series of products, projected to
begin in early 2nd quarter of this year. Our investors clearly understand the
unique and valuable health benefits of EGT, as well as the strong proprietary
position OXIS holds as the sole source provider for the health and wellness and
personal care markets,' Saloff concluded.
The patented process developed and owned by OXIS is utilized to synthesize
commercial quantities of EGT in a highly soluble and highly stable form
suitable for use in a wide variety of dietary supplements, functional foods and
beverages, topical anti-aging and cosmetic lotions, creams and other personal
care products, as well as therapeutics. 'This capability provides OXIS with a
unique opportunity to market highly differentiated, superior products to
support burgeoning consumer demand for nutraceutical and cosmeceutical products
that provide advanced protection against oxidative stress and inflammation,'
according to Bernie Landes, President of OXIS.
'You have not heard much from OXIS for a while now but I can assure our
investors that we have been putting the things in place to now successfully
commercialize our exciting technology. I expect to be reporting to you
significant results from those efforts in the coming months,' added OXIS CEO,
David Saloff.
About OXIS International, Inc.
OXIS International, Inc. develops technologies and products to research,
diagnose, treat and prevent diseases of oxidative stress/inflammation
associated with damage from free radical and reactive oxygen species (ROS). The
company holds the rights to several therapeutic classes of compounds in the
area of oxidative stress, including EGT(tm) (L-ergothioneine).
CONTACT: David Saloff
424-248 2311
David@Oxis.com
News Source: NASDAQ OMX
21.03.2012 Dissemination of a Corporate News, transmitted by DGAP -
a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
DGAP's Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de
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Language: English
Company: Oxis International Inc.
United States
Phone:
Fax:
E-mail:
Internet:
ISIN: US6918294025
WKN:
End of Announcement DGAP News-Service
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Oxis International Inc.
21.03.2012 09:00
---------------------------------------------------------------------------
OXIS Investors Show Confidence in New Management's Ability to Successfully
Begin Product Line Launch in Ap
BEVERLY HILLS, Calif., 2012-03-21 09:00 CET (GLOBE NEWSWIRE) --
OXIS International, Inc., (OTCBB:OXIS) (Paris:OXI), today announced that it has
received an additional $500,000 equity investment in the Company and a
commitment for an additional $500,000 in working capital to support the
Company's April product launch.
Under terms of the agreement investors purchased unsecured convertible
debentures at 12% interest. The conversion price is at $0.05 per share, a
premium to the current market price of OXIS shares. Investors also receive
warrants at $0.0625 and $0.075. 'We believe this important investment from our
investors represents an endorsement of our overall business strategy, our
proprietary EGT(tm) (L-ergothioneine) technology and the confidence from the
investors of the Company's ability to launch a series of products, projected to
begin in early 2nd quarter of this year. Our investors clearly understand the
unique and valuable health benefits of EGT, as well as the strong proprietary
position OXIS holds as the sole source provider for the health and wellness and
personal care markets,' Saloff concluded.
The patented process developed and owned by OXIS is utilized to synthesize
commercial quantities of EGT in a highly soluble and highly stable form
suitable for use in a wide variety of dietary supplements, functional foods and
beverages, topical anti-aging and cosmetic lotions, creams and other personal
care products, as well as therapeutics. 'This capability provides OXIS with a
unique opportunity to market highly differentiated, superior products to
support burgeoning consumer demand for nutraceutical and cosmeceutical products
that provide advanced protection against oxidative stress and inflammation,'
according to Bernie Landes, President of OXIS.
'You have not heard much from OXIS for a while now but I can assure our
investors that we have been putting the things in place to now successfully
commercialize our exciting technology. I expect to be reporting to you
significant results from those efforts in the coming months,' added OXIS CEO,
David Saloff.
About OXIS International, Inc.
OXIS International, Inc. develops technologies and products to research,
diagnose, treat and prevent diseases of oxidative stress/inflammation
associated with damage from free radical and reactive oxygen species (ROS). The
company holds the rights to several therapeutic classes of compounds in the
area of oxidative stress, including EGT(tm) (L-ergothioneine).
CONTACT: David Saloff
424-248 2311
David@Oxis.com
News Source: NASDAQ OMX
21.03.2012 Dissemination of a Corporate News, transmitted by DGAP -
a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
DGAP's Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de
---------------------------------------------------------------------------
Language: English
Company: Oxis International Inc.
United States
Phone:
Fax:
E-mail:
Internet:
ISIN: US6918294025
WKN:
End of Announcement DGAP News-Service
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