WITTEN, Germany--(BUSINESS WIRE)--Sangui Biotech International, Inc. has signed an agreement securing a financial framework of USD 5 million. Under the terms of this agreement Sangui Biotech International, Inc. acquires the right to sell shares to a fund of Southridge LLC, an institutional investor, located in Connecticut and New York in the amount of up to $5 million over a period of three years. The dilution of existing shareholders is limited to a maximum of 25 million shares of common stock. The agreement is subject to Sangui filing a S-1 registration statement with the SEC.
Southridge is a diversified financial holding company specializing in direct investment and advisory services to small and middle market companies. Since 1996 the structured finance team has made direct investment of over $1.7 billion into growth companies globally. Southridge is dedicated to helping clients achieve their intended goals. Its expertise lies in its ability to customize a financing plan for the prospective client and then execute on that plan without fail.
Thomas Striepe, President and CEO of Sangui Biotech International, Inc., stated: “This financing enables us to proceed with our next large project: to obtain a CE certification for SBT 102, a hemoglobin formulation designed to save lives in cases of septic shock. After the great progress made in the course of the current year we are now able to finalize our detailed planning for the preclinical phase and start implementing it.”
Sangui BioTech International, Inc. (“SGBI”) is a holding company the shares of which are being traded on the OTCQB venture stage marketplace for early stage and developing U.S. and international companies (OTCQB: SGBI). Companies are current in their reporting and undergo an annual verification and management certification process. Sangui shares also trade on the OTC markets of Berlin and Hamburg-Hannover stock exchanges (symbol: SBH). Its purpose is to provide financing and access to the capital markets for the enterprises of the Sangui group. SanguiBioTech GmbH is a ninety percent subsidiary of Sangui BioTech International, Inc.
Some of the statements contained in this news release discuss future expectations, contain projections of results of operation or financial condition or state other “forward-looking” information. These statements are subject to known and unknown risks, uncertainties, and other factors that could cause the actual results to differ materially from those contemplated by the statements. The forward-looking information is based on various factors and is derived using numerous assumptions. Important factors that may cause actual results to differ from projections include, among many others, the ability of the Company to raise sufficient capital to meet operating requirements. Words such as “anticipates,” “expects,” “intends,” “plans,” “believes,” “seeks,” “estimates,” and variations of such words and similar expressions are intended to identify such forward-looking statements. Unless required by law, the Company undertakes no obligation to update publicly any forward-looking statements, whether as a result of new information, future events or otherwise.
Contacts
Sangui Biotech International
Joachim Fleing
Phone: +49 (179) 7963472
Fax: +49 (2302) 915191
e-mail: fleing@sangui.de
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