DURHAM, N.C., Oct. 13, 2010 (GLOBE NEWSWIRE) -- Oxygen Biotherapeutics, Inc. (Nasdaq:OXBT) (SIX Swiss Exchange:OXBT) entered into a Note Purchase Agreement with JP SPC 1 Vatea, Segregated Portfolio whereby the Company agreed to issue and sell to the Vatea Fund an aggregate of $5 million of senior unsecured promissory notes in a series of closings between October 31, 2010, and December 31, 2010. Vatea is a party to a securities purchase agreement with the Company, dated June 8, 2009, and subsequently amended. Vatea is the Company’s largest shareholder, holding approximately 13.68% of the Company’s outstanding common stock. In addition, Gregory Pepin, a director of the Company, is Investment Manager to the Vatea Fund.
