BioCurex Inc. (BOCX) Announces Receipt of Additional Proceeds From Public Offering
1/29/2010 2:30:49 PM
RICHMOND, British Columbia, Jan. 29, 2010 (GLOBE NEWSWIRE) -- BioCurex, Inc. (OTCBB:BOCX) announced today that, on January 28, 2010, Paulson Investment Company Inc.,subsidiary of Paulson Capitol Corp, (Nasdaq:PLCC), the lead underwriter of its recently completed public offering, purchased an additional 92,280 units to cover over-allotments, from which the company received net proceeds of approximately $420,000. As a result, BioCurex sold in the offering an aggregate of 1,292,280 units, consisting of an aggregate of 90,459,600 shares of common stock and 90,459,600 redeemable warrants, and received aggregate net proceeds of approximately $5.7 million. Approximately $1.2 million of the aggregate net proceeds will be used to reduce the outstanding principal on the company’s secured convertible notes to approximately $565,000.