Nanobac Life Science, Inc.

Life sciences company completes financing

Published in Cardiovascular Business Week, October 26th, 2004

Nanobac Life Science, Inc., (OTC Pink Sheets: NNBP) announced the completion of a private placement of its common stock led by the Nutmeg Group of Northbrook, Illinois, that potentially will bring $5 million to the company over the next four quarters.

The company also announced that most of its indebtedness to related parties has been converted to equity at a premium to the current market price. This conversion eliminates approximately $8 million of debt, resulting in a debt-free balance sheet, except for trade debt in the ordinary course of business.

These two transactions (details to be described in a formal 8-K filing) will enable the company to...

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Source: Cardiovascular Business Week (2004-10-26)

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