MEDTOX Scientific, Inc. Announces Final Conversion of Warrants
September 01 2005 - 1:51PM
Business Wire
MEDTOX Scientific, Inc. (AMEX:TOX), announced today that the
holders of warrants exercisable for an aggregate of 609,220 shares
of the Company's common stock exercised such warrants prior to
their expiration in the months of July and August 2005. The Company
issued 405,514 shares of its common stock in July 2005, and 185,186
shares in August 2005, upon exercise of such warrants. The
remaining shares underlying the exercised warrants were issued in
December 2004 and January 2005. The Company received $4,112,235 in
proceeds from the exercise of such warrants, reflecting the $6.75
per share exercise price. The warrants exercised were issued in
August 2000. The Company issued warrants exercisable for a total of
1,120,439 shares of its common stock at that time. Warrants
exercisable for an aggregate of 511,219 shares expired in July or
August 2005 without being exercised. MEDTOX Scientific, Inc.,
headquartered in St. Paul, Minn., is a provider of high quality
specialized laboratory testing services and
on-site/point-of-collection (POC) devices. The company also
supports customers with complete logistics, data and program
management services. MEDTOX is a leader in providing esoteric
laboratory testing services to hospitals and laboratories
nationwide. This includes both central laboratory and
bio-analytical testing for pharmaceutical clinical trials. MEDTOX
develops and manufactures diagnostic devices for quick and
economical on-site/point-of-collection analysis for drugs-of-abuse,
therapeutic drugs and biological and agricultural toxins and
provides employment drug screening and occupational health testing.
For more information see www.medtox.com.
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