IRVING, Texas, Aug. 8 /PRNewswire-FirstCall/ -- Carrington Laboratories, Inc. announced today that at a special meeting of shareholders held at 4:30 PM on Friday, August 3, 2007, shareholders of the Company overwhelmingly approved the second tranche of an $8 million private placement of convertible debentures and common stock warrants with certain institutional investors entered into on April 26, 2007. The second tranche will total approximately $3.6 million and is expected to close within a week. At the same meeting, shareholders authorized an additional 20 million shares of common stock, increasing the authorized number of shares of common stock from 30 million to 50 million.
About Carrington
Carrington Laboratories, Inc. is an ISO 9001-certified, research-based, biopharmaceutical and consumer products company currently utilizing naturally- occurring complex carbohydrates to manufacture and market products for mucositis, radiation dermatitis, wound and oral care, as well as to manufacture and market the nutraceutical raw material Manapol(R) and cosmetic raw material Hydrapol(TM). Carrington also manufactures and markets consumer products and manufactures quality products for other companies. Manufacturing operations comply with cGMP standards. Carrington’s DelSite Biotechnologies subsidiary is developing its proprietary GelSite(R) technology designed to provide controlled release of peptide and protein-based drugs. Carrington’s technology is protected by more than 130 patents in 26 countries. Select products carry the CE mark, recognized by more than 20 countries around the world. For more information, visit http://www.carringtonlabs.com.
Certain statements in this release concerning Carrington may be forward- looking. Actual events will be dependent upon a number of factors and risks including, but not limited to: the Company’s ability to consummate the second tranche of the private placement transaction; subsequent changes in plans by the Company’s management; delays or problems in formulation, manufacturing, distribution, production and/or launch of new finished products; changes in the regulatory process; changes in market trends; and a number of other factors and risks described from time to time in the Company’s filings with the Securities & Exchange Commission.
Carrington Laboratories, Inc
CONTACT: Bob Schnitzius, Chief Financial Officer of CarringtonLaboratories, Inc., +1-972-518-1300
Web site: http://www.carringtonlabs.com//
