TapImmune Inc. Closes $1.16 Million Funding

SEATTLE, March 1, 2011 (GLOBE NEWSWIRE) -- TapImmune Inc. (OTCBB:TPIV) is pleased to announce the closing of a $1.16M funding. On February 24, 2011, we entered into a securities purchase agreement with accredited investors in the amount of $1,159,413. A portion of the net proceeds of the financing was used to prepay some outstanding notes and to purchase and retire 11,200,000 warrants to purchase shares of our common stock. The remainder will be used for general corporate matters and for other expenses related to our clinical programs and partnerships. Full details of the transaction can found in our 8K filed with the SEC today.

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