KEEGO HARBOR, MI--(Marketwired - May 06, 2015) - ZIVO Bioscience, Inc. (OTCQB: ZIVO), announced today that it has received formal notice from HEP Investments, LLC increasing the amount of its credit facility to $8.5 million from $6 million. ZIVO board members unanimously approved a resolution to accept the increase and activate the lending provision. Further, HEP Investments advised ZIVO board of directors and management that it intends to incrementally convert a portion of its convertible debt into shares. This is part of an orderly process of conversion that HEP Investment intends to carry out over the next year.
“We’re planning to incrementally convert a portion of our convertible debt into common stock in a measured process to signal our support for the direction of the Company and to improve liquidity,” states HEP Investments Managing-Member, Laith Yaldoo. The private investment and financing fund was founded by Mr. Yaldoo in mid-2011.
Company CFO and board chair, Philip M. Rice II, concurs with the statement issued by HEP Investments, LLC.
“It’s heartening to see our primary lender entering the market,” states Mr. Rice. “And, it’s also re-affirming its confidence in our direction by expanding the credit facility by another $2.5 million, as we engage in an ever-expanding scope of operations.”
The Company intends to continue its initiative to develop and execute joint-ventures and licensing agreements.
About ZIVO Bioscience, Inc.
ZIVO Bioscience, Inc. (OTCQB: ZIVO) is a Michigan-based biotech company engaged in the investigation of the health benefits of bioactive compounds derived from its proprietary algal cultures, and the development of natural bioactive compounds for use as dietary supplements and food ingredients, as well as biologically derived and synthetic candidates for medicinal and pharmaceutical applications in humans and animals, specifically focused on autoimmune and inflammatory response modulation.
Safe Harbor Statement
Except for any historical information, the matters discussed in this press release contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These forward-looking statements involve risks and uncertainties. A number of factors could cause actual results to differ from those indicated in the forward-looking statements, including the timing of completion of a trial, actual future clinical trial results being different than the results the company has obtained to date, and the company’s ability to secure funding. Such statements are subject to a number of assumptions, risks and uncertainties. Readers are cautioned that such statements are not guarantees of future performance and those actual results or developments may differ materially from those set forth in the forward-looking statements. The company undertakes no obligation to publicly update or revise forward-looking statements, whether as a result of new information or otherwise.
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