TerraBioGen Closes Private Placement
(firmenpresse) - VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 03/06/13 -- TerraBioGen Technologies Inc., a developer of proprietary technologies for the production of organic-based, high-value agricultural products, announces that it has closed a private placement of 90,000 units at $10.00 per unit for proceeds of $900,000. Each unit consists of one common share and one warrant exercisable at $12.00 for 5 years. In December 2012, the Company had previously announced that the private placement had closed but in fact a small portion of the funds had not been received at that time.
These funds are primarily being used for the Company's research and development activities. TerraBioGen is actively working on the development and formulation of agriculturally bioactive compounds. The Company's growing trials over the next 18 months will focus on the formulation and delivery of these materials to a wide range of crops.
In December 2012, the Company filed provisional patents on one of its bioactive compounds and will be gathering information throughout the year to file final patents. In the near future, TerraBioGen expects to file provisional patents on additional bioactive compounds.
The Company is negotiating for new premises as the present location must be vacated by early May. This new facility will be used primarily for research and development, production for growing trials, and administration.
About TerraBioGen
TerraBioGen Technologies Inc. is committed to research and development to continue to improve the efficiency of its technology and the quality of its agricultural products. It is further committed to developing a world-wide marketing capability to ensure market acceptance of its products.
This news release contains certain statements that may be deemed "forward-looking" statements. Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Although TerraBioGen believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in forward looking statements. Forward looking statements are based on the beliefs, estimates and opinions of TerraBioGen's management on the date the statements are made. Except as required by law, TerraBioGen undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.
THIS PRESS RELEASE, REQUIRED BY APPLICABLE CANADIAN LAWS, IS NOT FOR DISTRIBUTION TO U.S. NEWS SERVICES OR FOR DISSEMINATION IN THE UNITED STATES, AND DOES NOT CONSTITUTE AN OFFER OF THE SECURITIES DESCRIBED HEREIN. THESE SECURITIES HAVE NOT BEEN REGISTERED UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED, OR ANY STATE SECURITIES LAWS, AND MAY NOT BE OFFERED OR SOLD IN THE UNITED STATES OR TO U.S. PERSONS UNLESS REGISTERED OR EXEMPT THEREFROM.
Contacts:
TerraBioGen Technologies Inc.
Blair Heffelfinger
President & CEO
(604) 924-1023 ext 316
(604) 924-1043 (FAX)
TerraBioGen Technologies Inc.
Bob Nowell
CFO & Corporate Secretary
(604) 924-1023 ext 306
(604) 924-1043 (FAX)
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Datum: 06.03.2013 - 09:00 Uhr
Sprache: Deutsch
News-ID 1204136
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