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Biotech Holdings

Biotech Holdings private placement funding to be applied to diabetes drug launch

Published in Medical Verdicts and Law Weekly, November 25th, 2004

Robert Rieveley, president of Biotech Holdings (BIO.V; BIOHF) announced that the company has received preliminary regulatory approval to proceed with raising private placement funding totaling CDN $1,000,000.

"These funds will be applied to requirements associated with the launch of our diabetes drug, Sucanon, in Mexico including purchase of television and radio time, in-store support for Sucanon and medical presentations," Rieveley said.

"We have to date received $111,000 of the above private placement funding. Shares pursuant to this funding will be issued at $.50 Cdn, with each share having a 2-year warrant exercisable at CDN $0.55. The U.S....

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