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NOXSO COMPLETES $2.6 MILLION PRIVATE PLACEMENT

 BETHEL PARK, Pa., June 14 /PRNewswire/ -- NOXSO Corporation (NASDAQ: NOXO) announced today the closing of a private placement of common stock. The offering was made solely to accredited investors at an offering price of $5.00 per share. 571,250 shares were sold, resulting in proceeds to the company of $2,627,750, after payment of placement agent's commissions. The company has granted certain registration rights to the investors in the transaction.
 NOXSO said it will use the proceeds for working capital.
 Merit Capital Associates, Inc. of Westport, Conn., acted as the placement agent in the transaction.
 NOXSO is a development stage company engaged in developing and testing a process to remove a high percentage of those pollutants which cause acid rain and smog from flue gas generated by burning coal.
 -0- 6/14/93
 /CONTACT: Robert Long of NOXSO Corporation, 412-854-1200; or Thomas Redington of Redington, Inc., 203-222-7399, or 212-926-1733, for NOXSO/
 (NOXO)


CO: NOXSO Corporation ST: Pennsylvania IN: ENV SU: OFR

WB-OS -- NY094 -- 1780 06/14/93 16:13 EDT
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Publication:PR Newswire
Date:Jun 14, 1993
Words:172
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