Acrongenomics Inc. Completes US $1,155,000 Private Placement
May 15, 2007
Acrongenomics Inc.(OTCBB:AGNM) a publicly traded life sciences company today announced that it has completed private placement transactions of its common stock with a group of accredited investors for a total of US $1,155,000.
The terms of the private placement provide for the sale of 1,050,000 units at a price of $1.10 per unit. Each unit consists of one common share and one half of a warrant with each full warrant granting the investor the right to purchase one additional common share at $1.50 per share.
The funds will be used towards the further development of the BioLED platform with emphasis on the Kidney & Cardio markers and also general working capital, the platform will feature low-cost, easy to use and
readily portable POC devices for medical testing that will give accurate diagnosis in minutes.
About Acrongenomics:
Acrongenomics Inc. is a publicly traded company that focuses on investing in and commercializing novel technology platforms concerning the Life Sciences sector. Acrongenomics brings novel and realistic concepts to market by transforming scientific innovations into tangible, consumer-orientated applications.
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All statements in this news release that are other than statements of historical facts are forward-looking statements which contain our current expectations about our future results. Forward-looking statements involve numerous risks and uncertainties. We have attempted to identify any forward-looking statements by using words such as "anticipates", "believes", "could", "expects", "intends", "may", "should" and other similar expressions. Although we believe that the expectations reflected in all of our forward looking statements are reasonable, we can give no assurance that such expectations will prove to be correct. A number of factors may affect our future results and may cause those results to differ materially from those indicated in any forward-looking statements made by us or on our behalf. Such factors include our limited operating history; our need for significant capital to finance internal growth as well as strategic acquisitions; our ability to attract and retain key employees and strategic partners; our ability to achieve and maintain profitability; fluctuations in the trading price and volume of our stock; competition from other providers of similar products and services; and other unanticipated future events and conditions. For further information concerning risks and uncertainties that may affect our future results, please review the disclosures contained in our latest filings with the SEC, including our most recent annual report on Form 10-KSB, and subsequent quarterly reports on Form 10-QSB. Other than as required by federal securities laws, we undertake no obligation to publicly update or revise any of our forward-looking statements, whether as a result of changed circumstances, new information, future events, or for any other reason occurring after the date of this news release.
