9/27/2013 9:04:30 AM
SUNNYVALE, Calif., Sept. 27, 2013 (GLOBE NEWSWIRE) -- Amarantus Bioscience Holdings, Inc. (OTCQB:AMBS), a biotechnology company focused on the discovery and development of novel diagnostics and therapeutics related to neurodegeneration and apoptosis, today announced that it has entered into definitive agreements to raise an additional $1.6 million in its previously announced private placement of convertible debentures and warrants, bringing the total capital raised to $3.0 million. The investment was led by International Infusion and included Dr. Joseph Rubinfeld, Johnston Associates, Inc., Dominion Capital, Amarantus management, members of the Amarantus Board of Directors and existing investors. In the event the warrants are exercised in full, total proceeds to the Company resulting from this transaction will equal approximately $8 million. The additional funds raised will be used to further fund core diagnostic and therapeutic programs, as well as execute -various business development opportunities. The closing of this transaction is subject to the satisfaction of customary closing conditions and is expected to occur on or before October 1, 2013. GVC Capital LLC acted as exclusive placement agent, and Zacks & Company acted as financial advisor.
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