Bionutrics, Inc. Receives $1 Million From Private Financing.Business Editors PHOENIX--(BUSINESS WIRE)--Nov. 22, 2000 Bionutrics, Inc., (Nasdaq: BNRX) announced today that it has raised $1 million from the completion of a private placement of 1,000,000 shares of the Company's common stock. In addition, Rhino Advisors has been retained by the Company to manage the distribution of a newly established shelf registration equity line of 4,000,000 shares. The term for the line is two years during which the Company has the right to sell up to 4,000,000 share of it common stock. Certain restrictions apply to the number of shares saleable sale·a·ble adj. Variant of salable. saleable or US salable Adjective fit for selling or capable of being sold saleability or US during a given period and the timing of the sales. Bionutrics Chairman and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. , Ronald H. Lane, Ph.D., remarked: "This capital will allow the Company to complete the research, development and roll out of products very close to launch. We believe our new products have the promise of immediate acceptance in the functional nutrition marketplace." Stephan Stephan is a male given name, a variant of Stephen. This page or section lists people with the given name Stephan. If an internal link for a specific person referred you to this page, you may wish to add the surname to that wikilink. Seigal of Rhino Advisors commented: "We are excited to add Bionutrics to our growing portfolio of promising biotech bi·o·tech n. Informal Biotechnology. biotech Noun short for biotechnology Noun 1. and biopharma companies. We are confident in the ability of management and Bionutric's impressive board of directors to meet their timely new product launch objectives." Bionutrics is a biopharmaceutical company founded to discover and develop novel biologically active compounds derived from natural sources. Natural, biologically active compounds have potential applications as functional nutrition ingredients as well as ethical drugs. Bionutrics is presently developing proprietary functional nutrition ingredients and pharmaceutical products and intends to market these products through strategic alliances. "Safe Harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. " statement under the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995: This release contains forward looking statements that are subject to the risks and uncertainties, including, but not limited to, the impact of competitive products and pricing, product demand and market acceptance, new product development, reliance on key strategic alliances, availability of raw materials, the regulatory reg·u·late tr.v. reg·u·lat·ed, reg·u·lat·ing, reg·u·lates 1. To control or direct according to rule, principle, or law. 2. environment and governmental approval processes, fluctuations in operating results and other risks detailed from time to time in the Company's filings with the Securities and Exchange Commission. |
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