BioSafe International makes announcement.CAMBRIDGE, Mass.--(BUSINESS WIRE)--April 3, 1995--BioSafe International, Inc., formerly Zoe Capital Corp., announced today the closing of its merger-acquisition of BioSafe, Inc., an environmental technology company. The merger followed a 1 for 73.083 reverse split of Zoe's outstanding Common Stock. As a result of the merger, BioSafe, Inc. Common Stock was exchanged for BioSafe International Common Stock on a share-for-share basis. The BioSafe International Common Stock will trade on the NASD NASD See: National Association of Securities Dealers NASD See National Association of Securities Dealers (NASD). Electronic Bulletin Board under the symbol "BSFE BSFE Bureau of Surveillance and Field Epidemiology ." Contemporaneously with the merger, BioSafe completed an initial closing of its private placement yielding gross proceeds of $4.0 million from the sale of 500,000 Units at $8.00 per Unit, each Unit consisting of four shares of Common Stock and Series D Warrants to purchase two shares of Common Stock at a price of $4.75 per share. BioSafe International intends to close an additional amount of up to $4,000,000 in the next several days. Subject to the receipt of consent from investors who have already purchased Units in the private placement, BioSafe International intends to close on up to an additional $1,000,000 through the sale of additional Units on the same terms and conditions, resulting in maximum total unit sales unit sales Sales measured in terms of physical units rather than dollars. Unit sales data are often used by financial analysts when evaluating the health of a company. of $9,000,000. BioSafe International has developed proprietary technology and equipment that solves environmental problems in an environmentally safe and cost effective manner. Principle applications for BioSafes technologies include landfill remodeling remodeling /re·mod·el·ing/ (re-mod´el-ing) reorganization or renovation of an old structure. bone remodeling , tire and rubber waste recycling, contaminated contaminated, v 1. made radioactive by the addition of small quantities of radioactive material. 2. made contaminated by adding infective or radiographic materials. 3. an infective surface or object. soil remediation, industrial sludge disposal, and infectious medical waste disposal. BioSafe International is focusing its efforts on remodeling unlined municipal landfills. BioSafe is currently under contract to remodel re·mod·el tr.v. re·mod·eled also re·mod·elled, re·mod·el·ing also re·mod·el·ling, re·mod·els also re·mod·els To make over in structure or style; reconstruct. a 28 acre landfill for the Town of Fairhaven, Massachusetts. This project provides the Town with significant environmental and economic benefits. BioSafe International also announced today that it has entered into an agreement with Liviakis Financial Communications, Inc., a nationally recognized financial consulting firm based in Sacramento, CA, to provide investor relations Investor relations The process by which the corporation communicates with its investors. services for two years. CONTACT: BioSafe International, Inc. Bob Rivkin, 617/497-4500 Liviakis Financial Communications, Inc. John Liviakis or Robert Prag, 916/448-6084 |
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