CARLSBAD, Calif.--(BUSINESS WIRE)--June 13, 2006--The Immune Response Corporation (OTCBB:IMNR - News) announced that its Registration Statement for the resale of common stock underlying the convertible notes and warrants issued in the Company's March 2006 private placement financing was declared effective today by the Securities and Exchange Commission. In that private placement, the Company issued $8.0 million of secured notes which are convertible into 400,000,000 shares of common stock at $0.02 per share. The secured convertible notes accrue interest at 8% per year and mature on January 1, 2008. Investors also received warrants to purchase an aggregate of 1,200,000,000 shares of common stock at $0.02 per share; these warrants, if fully exercised, would generate an additional $24 million in gross proceeds for the Company. The warrants are divided into two 600,000,000 warrant tranches.
