ULURU Inc. Release: Management to Invest on the Same Terms as Melmed Holdings AG
Published: Nov 01, 2012
ADDISON, Texas, Nov. 1, 2012 /PRNewswire/ -- ULURU Inc. ("ULURU")(OTCQB: ULUR), announced today that company management will invest approximately $400,000 on similar terms to Melmed Holdings AG ("Melmed"), as outlined in the binding term sheet announced on September 25, 2012.
Melmed intends to invest $2 million for 5 million shares of the Company's common stock ($0.40 cents per share) and warrants to purchase up to 3 million shares of common stock with an exercise price of $0.60 cents per share.
Commenting on the investment by management, Helmut Kerschbaumer, Chairman of Melmed Holdings AG, stated, "We are delighted that the management of ULURU has shown such financial commitment and shares our confidence and vision for the company. Given the investment in ULURU by both parties, we believe the company is funded to execute on their business plan and to enhance shareholder value."
The shares of common stock to be issued and any shares issued resulting form the exercise of warrants have not been registered under the Securities Act of 1933 and may not be sold absent registration or an applicable exemption from the registration requirements.
About ULURU Inc.:
ULURU Inc. is a specialty pharmaceutical company focused on the development of a portfolio of wound management and oral care products to provide patients and consumers improved clinical outcomes through its innovative Nanoflex® Aggregate technology and OraDisc transmucosal delivery system. For further information about ULURU Inc., please visit our website at www.uluruinc.com.
This press release contains certain statements that are forward-looking within the meaning of Section 27a of the Securities Act of 1933, as amended. These statements are subject to numerous risks and uncertainties, including but not limited to enhancing ULURU's long term value, and to the risk factors detailed in the Company's Annual Report on Form 10-K for the year ended December 31, 2011, and other reports filed by us with the Securities and Exchange Commission.
Kerry P. Gray
President & CEO
Terry K. Wallberg
Vice President & CFO
SOURCE ULURU Inc.