SHARON, Pa., Jan. 12 /PRNewswire-FirstCall/ -- NanoLogix, Inc. today announced that it has received a financing commitment fostered by The Nutmeg Group, a prominent U.S.-based investment fund. The initial commitment totaling $750,000 will enable the Company to reach critical milestones in the roll-out of its hydrogen generation system technologies to be deployed at Welch’s as well as the commercialization of its medical diagnostic products.
Randall S. Goulding, Managing Director of The Nutmeg Group, stated, “We believe that the Company’s current valuation is not at all reflective of its existing intrinsic value or its near and long-term prospects, particularly with respect to its technology deployment at Welch’s. The Company’s talented management, unique offerings and their potential for exponential expansion has prompted both our ongoing financial and strategic commitment.” He continued, “The initial capital infusion will be allocated towards operational ramp-up in order to seize existing revenue opportunities as well as the exploration of new business opportunities and joint ventures, several of which are already in the works.”
With more than 30 million dollars under management, The Nutmeg Group is a value-added private capital investment firm and a full service investment and financial consulting organization, dedicated to helping growth companies emerge as industry leaders. Staffed with an impressive array of diverse talents and a robust infrastructure, Nutmeg stands committed to facilitating NanoLogix’s success, as it is for all of its portfolio companies. Loren Comitor, President of CCM&A, Nutmeg’s advertising and marketing affiliate, will facilitate new global marketing arrangements for NanoLogix as well as enhance the Company’s image and aesthetic so that they are commercially friendly and reflective of the Company’s outstanding prospects.
David C. McClelland, President of NanoLogix, commented, “We are extremely please to have the Nutmeg Group playing a vital role in NanoLogix’s future. While their initial financial commitment enables the Company to reach some critical milestones, it is the intangible value of both their collective strategic expertise and deep global business relationships that makes this partnership a ‘no-brainer.’”
About NanoLogix, Inc.
NanoLogix is a nanobiotechnology company that engages in the research, development, and commercialization of technologies for the production of bacteria, disease testing kits, alternative sources of fuel, cancer therapy, and remediation of toxic materials. The Company’s patents span the identification and antibiotic sensitivity testing of 34 disease-producing bacteria, including M. tuberculosis (TB), Mycobacterium avium-intracellulare (MAI), pseudomonas, and nocardia. These bacteria are cited as prominent causes of morbidity and mortality in patients with cancer, cystic fibrosis, and AIDS. Additionally, NanoLogix owns a patent for the nontoxic induction of apoptosis (a method for inducing a genetically based induction of “cell suicide”) in cancer cells utilizing hydrophobic hydrocarbons. NanoLogix is currently implementing a technology application for biogas products and services designed to assist in worldwide energy independence and reduce pollution from renewable, environmentally-friendly energy sources.
Forward-Looking Statements
This press release contains statements, which may constitute “forward- looking statements” within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. Those statements include statements regarding the intent, belief or current expectations of NanoLogix, Inc., and members of its management as well as the assumptions on which such statements are based. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those contemplated by such forward-looking statements. The Company undertakes no obligation to update or revise forward-looking statements to reflect changed assumptions, the occurrence of unanticipated events or changes to future operating results.
NanoLogix, Inc.
CONTACT: Brass Bulls Corp., +1-866-342-2700, for NanoLogix, Inc.
Web site: http://www.NanoLogix.net/
