Press Release
SOURCE: Parcelsian, Inc.
Paracelsian Announces Equity Investment
ITHACA, N.Y., Aug. 10 /PRNewswire/ - Paracelsian, Inc. (Otc: PRLN - news) ITHACA, N.Y., announced today that the Company has received an equity investment of $500,000 in a private
placement transaction. In addition to the sale of common stock, Paracelsian issued warrants in the transaction that could result in additional investment of $1.5 million by December 31 of this year if the warrants are exercised in full.
``We are pleased that we were able to attract the interest of a sophisticated and large investment fund with well over $50 million under management,'' said Dr. T. Colin Campbell, CEO & President of Paracelsian. ``This group has a special interest in environmental issues and was intrigued with our
Dioxin technology,'' continued Dr. Campbell. ``We are pleased with the structure of the investment and are confident that it will bridge Paracelsian to additional customers and revenue, while minimizing dilution to current shareholders,'' concluded Dr. Campbell.
Paracelsian is a unique biotechnology company with three primary areas of focus. Paracelsian develops technologies useful in the detection and monitoring of environmental contaminants such as dioxin. And second, Paracelsian develops functional bioassays, which are the basis of its
BioFIT(TM) Quality Assurance program for herbs, botanicals and other dietary supplements. And finally, Paracelsian's Internet business leverages extensive relationships in China, along with expertise in nutritional science, to provide an exchange of unique health products and research services.
Notice: This news release may contain forward-looking statements. Investors are cautioned that such forward-looking statements involve risks and uncertainties, including but not limited to, the results of research and development efforts, the effect of regulation by the United States Food and Drug Administration and other agencies, the impact of competitive products, product development,
commercialization and technological difficulties, and other risks detailed in the Company's periodic reports filed with the Securities and Exchange Commission.
No forward-looking statement is a guarantee of future results or events, and one should avoid placing undue reliance on such statements.
SOURCE: Parcelsian, Inc. |
