Wire: ISDN
DateStamp: 990226 13:30:17
Corporation: VASOGEN INC.
Stock Symbol: VAS
Dateline: MISSISSAUGA, ONTARIO
Headline: VASOGEN COMPLETES SPECIAL WARRANT ISSUE
Text:
Vasogen Inc. (ME:VAS) is pleased to announce that it has
completed a private placement of 5,000,000 special warrants at a
price of $1.55 per special warrant. Net proceeds after expenses
related to the issue are $7.1 million. Loewen, Ondaatje,
McCutcheon Limited, BLC Securities Inc. and Research Capital
Corporation acted as agents.
Each special warrant is exchangeable without further payment into
one common share. The proceeds of the issue are being held in
escrow pending clearance by the Company of a prospectus, filed by
the Company today, prior to June 22, 1999.
The net proceeds will be used to fund the Vasogen”s research and
development program and corporate activities. The Company”s
projected cash resources as at February 28, 1999, taking these
proceeds into account, total $11.6 million.
Vasogen is focused on advancing the treatment of cardiovascular
and autoimmune diseases through the development and
commercialization of patient-specific therapies. These therapies
use a patient”s own blood to regulate the immune processes
involved in these diseases. Patient-specific therapies are
designed to target fundamental disease-causing events, providing
safe, effective treatment.
INVESTOR CONTACT
Trevor Burns
Investor Relations
tel (905) 569-9065
e-mail investor@vasogen.com
2155 Dunwin Drive, Suite 10
Mississauga, ON, Canada L5L 4M1
tel (905) 569-2265 fax (905) 569-9231
vasogen.com
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