Finance

Blood substitute maker exercises warrants

Published in Biotech Business Week, March 6th, 2006

HemoBioTech (HMBT) announced that three publicly traded closed end funds advised by Renn Capital Group, Inc., have exercised 1,764,720 Class A Warrants held by them for an aggregate consideration of $1,870,603 and in connection therewith, they were issued an aggregate 1,764,720 shares of HemoBioTech common stock.

The warrants were originally received as part of an October 2004 private placement by HemoBioTech. HemoBioTech filed a registration statement with the SEC covering the resale of the shares of common stock issued, which was declared effective by the SEC on May 13, 2005.

"We are very pleased with the support of the three funds and their...

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Source: Biotech Business Week (2006-03-06)

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