Don't laugh to hard Terry......HSPN just got $100 million! Guess where some of that money might be going!!!
Friday May 28, 2:25 pm Eastern Time
HealthSpan, Inc. Receives Funding Commitment for Debt and Equity
HERMOSA BEACH, Calif., May 28 /PRNewswire/ -- HealthSpan, Inc. (OTC Bulletin Board: HSPN - news) announced today they have received from Morgan Weinstein & Co. a firm commitment to fund $100,000,000 USD in equity and debt financing.
HealthSpan is a formulator, manufacturer, marketer, seller, and distributor of products into the rapidly expanding nutriceutical food, vitamin and dietary aids marketplace and into the emerging dermaceutical marketplace. Nutriceuticals (nutritional pharmaceuticals) are foods, vitamins, and other dietary supplements that have proven therapeutic health benefits. Dermaceuticals are topical remedies that have proven therapeutic benefits.
The net proceeds of the funding will be used for working capital purposes and for strategic acquisitions of companies in the nutriceutical food, vitamin and dietary aids marketplace. The transaction is subject to an ongoing due diligence by Morgan Weinstein & Co. The closing is scheduled within 120 days.
HealthSpan has indicated that funds from this debt & equity private placement, in conjunction with its receivables financing agreement are anticipated to adequately support HealthSpan's expected sales over the next three years.
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