TOMI Receives $8 Million Equity Investment
BEVERLY HILLS, Calif., July 8, 2015 (GLOBE NEWSWIRE) -- TOMI™ Environmental Solutions, Inc. (OTCQB:TOMZ) (TOMI), a global bacteria decontamination and infection prevention company, announced that it has received an equity investment of $8 million from Arise Asset Management Private Limited (Arise). As part of the transaction, TOMI issued approximately 17 million shares of restricted common stock to Arise. Established in 2001, Arise is a private and public wealth management fund based in Singapore that focuses primarily on publicly traded technology companies around the world.
Dr. Halden Shane, TOMI's Chief Executive Officer, stated: "This equity transaction demonstrates our commitment to improving our balance sheet and positioning the company for long-term growth. A portion of the proceeds of this capital raise enabled us to retire approximately $5 million in convertible debt plus interest, resulting in TOMI becoming completely debt-free. Following last month's announcement that the Environmental Protection Agency (EPA) registered TOMI's SteraMist™ with Binary Ionization Technology® (BIT™) for use in hospitals and healthcare facilities, we believe that we are very well positioned to bring our leading, cutting-edge SteraMist™ technology to market in rapid fashion."
About TOMI™ Environmental Solutions, Inc.
TOMI™ Environmental Solutions, Inc. (OTCQB:TOMZ) is a global bacteria decontamination and infectious disease control company, providing eco-friendly environmental solutions for indoor surface decontamination through manufacturing, sales and licensing of our premier platform of Hydrogen Peroxide based products that uses Binary Ionization Technology® (BIT™), a state of the art technology for the production of its healthcare-hospital disinfectant mist represented by the TOMI™ SteraMist™ brand.
TOMI's products are designed to service a broad spectrum of commercial structures including hospitals and medical facilities, cruise ships, office buildings, hotel and motel rooms, schools, restaurants, for non-food safety in meat and produce processing facilities, military barracks, and athletic facilities. TOMI's products and services have also been used in single-family homes and multi-unit residences.
TOMI also develops training programs and application protocols for its clients and is a member in good standing with The American Biological Safety Association, The American Association of Tissue Banks, Association for Professionals in Infection Control and Epidemiology, Society for Healthcare Epidemiology of America, The Restoration Industry Association, Indoor Air Quality Association, and The International Ozone Association. For additional product information, visit www.tomiesinc.com or contact us at info@tomiesinc.com.
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995
Certain written and oral statements made by us may constitute "forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995 (the "Reform Act"). Forward-looking statements are identified by such words and phrases as "we expect," "expected to," "estimates," "estimated," "current outlook," "we look forward to," "would equate to," "projects," "projections," "projected to be," "anticipates," "anticipated," "we believe," "could be," and other similar phrases. All statements addressing operating performance, events, or developments that we expect or anticipate will occur in the future, including statements relating to revenue growth, earnings, earnings-per-share growth, or similar projections, are forward-looking statements within the meaning of the Reform Act. They are forward-looking, and they should be evaluated in light of important risk factors that could cause our actual results to differ materially from our anticipated results. The information provided in this document is based upon the facts and circumstances known at this time. We undertake no obligation to update these forward-looking statements after the date of this release.
CONTACT: INVESTOR RELATIONS CONTACT: Becky Herrick & Kirsten Chapman LHA (IR Agency) (415) 433-3777 tomi@lhai.com MEDIA RELATIONS CONTACT: Aaron Loveland VP of Marketing and Public Affairs (240) 672-6263 aaron.loveland@tomiesinc.com
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