STGI, Related Quotes
STGI.OB
1 7/8
+5/16
delayed 20 mins - disclaimer
Wednesday July 26, 9:17 am Eastern Time
Company Press Release
STGI Signs $20 Million Funding Agreement
LAS VEGAS--(BW HealthWire)--July 26, 2000--(OTCBB:STGI-news) Steroidogenesis Inhibitors International, Inc. is pleased to announce the signing of an agreement with Investment Bankers Josephberg Grosz & Co., Inc., a New York based international investment banking firm.
They specialize in structuring financial transactions for U.S. and foreign-based public and private companies along with providing private equity and debt capital from institutional investors for working capital, mergers, acquisitions, refinancing and management buyouts.
Some of the Companies to which Josephberg Grosz & Co., Inc. has provided Investment and Merchant Banking Services have been, Applied DNA Systems, BioDental Technologies Corp, GIA Research Company, NutraMax Products Inc., Oxygen Enrichment Company, Ltd. and Allscripts.
Richard Josephberg, who had been a securities analyst at Goldman Sachs & Co. and also a member of the New York Stock Exchange stated ``I am excited about the opportunity of working with STGI and believe that with the appropriate financing, and this management team, combined with STGI's core technology and growth potential, it will become a major force in the pharmaceutical industry.''
Josephberg's immediate focus will be in providing the Company with equity for working capital needs in the $5,000,000 range and acquisition capital in the $15,000,000 range.
Dr. Janet Greeson, President of STGI stated, ``We are excited about the signing of this financial endeavor. This financing is a vote of confidence in the present management team that was impossible to get under the previous leadership. Management is finally a team that is driven to enhance shareholder value.'' Dr. Greeson continued ``This is just the beginning of how we are going to demonstrate to our shareholders that we can turn STGI into a pharmaceutical company that can't be ignored.''
Bert Wollen, CEO elaborated, ``We are being positioned to become a significant company and we think ''the street`` is embracing our new direction as demonstrated by this agreement. Richard Josephberg is extremely professional and has the caliber of the people that we want to deal with in the future.''
STGI is a pioneer in anti-cortisol research. Over the past ten years, Cortisol (the stress hormone) has become internationally recognized as a major immune-suppressive hormone, which influences the body's system to either ``fight or flight''. University and clinical studies on the Company's ANTICORT(TM) drug are currently under way both domestically and in Europe.
STGI is actively seeking to enhance its technology portfolio in the anti-cortisol field and its delivery systems
This release contains statements about the future that could differ from actual results. The statements are subject to risk and uncertainties, including, but not limited to, the impact of competition, fluctuations in stock price and liquidity, fluctuating operating results and other risks.
STGI is a pharmaceutical company with its core technology being ANTICORT(TM), which is currently in FDA Phase 1B/2A clinical trials as an anticortisol drug for the treatment of HIV positives.
This Release Contains Statements About the Future That Could Differ From Actual Results. the Statements are Subject to Risk and Uncertainties, Including, But Not Limited To, the Impact of Competition, Fluctuations in Stock Price and Liquidity, Fluctuating Operating Results and Other Risks.
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Contact:
Steroidogenesis Inhibitors, Intl
Dr. Janet Greeson, 702/222-1988
or
Columbia Financial Group
Brokers and Analysts
888/301-6271
or
Performance Strategies, Inc.
Richard L. Brown and
Chuck Jordan, 303/948-3601 |
