SEATTLE--(BUSINESS WIRE)--March 9, 2006--Pacific Biometrics Inc. (OTCBB:PBME) has completed a $3.8 million private equity financing with 8 accredited investors. Pursuant to this private financing, Pacific Biometrics sold approximately 2.8 million restricted shares of Common Stock together with warrants to purchase approximately 800,000 shares of Common Stock. The shares of Common Stock were sold at a price of $1.35 per share. The Warrants have an exercise price of $1.60 per share, will be exercisable beginning on the date that is six months from the closing date, and have a term of 5 years. If all of the warrants are exercised in the full, Pacific Biometrics would receive approximately an additional $1.4 million.
