CHICAGO--(BUSINESS WIRE)--CytoCore Inc. (OTCBB:CYOE), a leading developer of cost-effective cancer screening systems to assist in the early detection of cervical, endometrial, and other cancers, announced today that it has completed the sale of approximately 5,000,000 shares of newly issued common stock at the price of $2.00 per share to certain institutional and accredited investors. In addition, approximately 2.5 million 3 year warrants exercisable at a fixed price of $2.00 per share will be issued. One warrant accompanied every two shares purchased. Initial closing of the transaction was on Friday, March 7, 2008. The proceeds will be used to fund equipment purchases and working capital. Bathgate Capital Partners LLC acted as the placement for 3,115,000 shares of the financing.
