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CBL MEDICAL REDEEMS ALL OUTSTANDING WARRANTS

 LOS ANGELES, Nov. 16 ~PRNewswire~ -- CBL Medical Inc. (NASDAQ-NMS: CBLM) announced today that on Jan. 5, 1993, it will redeem all outstanding warrants which were issued in connection with its Initial Public Offering.
 CBL Medical has 164,000 warrants outstanding subject to this redemption call. Holders of warrants shall have until 5 p.m. Pacific Standard Time, Dec. 31, 1992 to exercise their warrants, after which the right to exercise the warrants and all other rights of the warrantholders (other than the right to receive the redemption price) will terminate. The warrants are exercisable for one share of common stock at $3.50. On Nov. 13, 1992, CBL Medical's common stock closed at $4.44 per share.
 All unexercised warrants will be redeemed by CBL Medical at 50 cents per warrant on Jan. 5, 1993. Funds will be deposited with U.S. Stock Transfer Corp., the Warrant Agent, on or before the redemption date, to be applied solely to redemption payments to warrantholders of record. Warrantholders must surrender their warrants to the warrant agent in order to receive payment.
 The company intends to use the proceeds for reduction of debt and opening additional Work Simulation Centers.
 CBL joint ventures with physicians for the purpose of establishing and operating multi-specialty medical centers which provide treatment of patients who have sustained work-related and non work-related injuries. CBL also jointly owns and manages Work Simulation Centers and Centers for Vocational Rehabilitation Services. Work Simulation Centers provide state-of-the-art Functional Capacity Testing. Centers for Vocational Rehabilitation provide vocational counseling services.
 Ten Medical Centers, four Work Simulation Centers, and one Centers for Vocational Rehabilitation Services are currently under management.
 -0- 11~16~92
 ~CONTACT: Daryl Salrin of CBL Medical, 310-788-5845~
 (CBLM)


CO: CBL Medical Inc. ST: California IN: HEA SU:

BB -- LA025 -- 1369 11~16~92 14:32 EST
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Publication:PR Newswire
Date:Nov 16, 1992
Words:303
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