Bio-Bridge Science Announces $2.775 Million Private Placement
04 July 2008 - 3:58AM
Business Wire
Bio-Bridge Science, Inc. (OTCBB:BGES), a biotechnology company
engaged in the commercial development of vaccines for the
prevention and treatment of human infectious diseases announced
today that it had closed a private placement of its investment
units. Each investment unit consists of a share of common stock,
two series of common stock purchase warrants to purchase 0.5 share
of common stock respectively. $2,500,000 of the offering was
purchased indirectly by a director, Mr. Trevor Roy. The Company
will receive total proceeds of $ 2.775 million. $400,000 was paid
at closing, and the balance of $2.375 million will be paid in ten
equal amounts in monthly installments until May 1, 2009. The
proceeds will be used for general working capital purpose and to
fund our vaccine development activities in China. Dr. Liang Qiao,
Chairman and CEO of Bio-Bridge said, �We are happy to see our
investors strongly support our company and have confidence in our
business and strategy. We will see significant business development
in both our core business in vaccine development and
acquisition/joint venture. We are optimistic that our shareholder
value can be maximized through our continuous hard work. � This
press release contains forward-looking statements. Forward-looking
statements include statements concerning plans, objectives, goals,
strategies, future events or performance, and underlying
assumptions and other statements that are other than statements of
historical facts. These statements are subject to uncertainties and
risks including, but not limited to, product and service demand and
acceptance, changes in technology, economic conditions, the impact
of competition and pricing, government regulation, and other risks
defined in this document and in statements filed from time to time
with the Securities and Exchange Commission. All such
forward-looking statements, whether written or oral, and whether
made by or on behalf of the company, are expressly qualified by
these cautionary statements and any other cautionary statements
which may accompany the forward-looking statements. In addition,
the company disclaims any obligation to update any forward-looking
statements to reflect events or circumstances after the date
hereof. Please refer to the Company's SEC filings for additional
information.
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