Global Med Technologies(R), Inc. Secures $8.0 Million Equity Commitment From Fusion Capital
October 13 2004 - 10:30AM
PR Newswire (US)
Global Med Technologies(R), Inc. Secures $8.0 Million Equity
Commitment From Fusion Capital DENVER, Oct. 13
/PRNewswire-FirstCall/ -- Global Med Technologies(R), Inc.
(OTC:GLOB) (BULLETIN BOARD: GLOB) ("Global Med"), announced that it
has entered into a common stock purchase agreement with Fusion
Capital Fund II, LLC, a Chicago based institutional investor,
whereby Fusion Capital has agreed to purchase up to $8.0 million of
common stock over a 32-month period. Specifically, after the
Securities & Exchange Commission has declared effective a
registration statement, each month Global Med has the right to sell
to Fusion Capital $250,000 of its common stock at a purchase price
based upon the market price of Global Med's common stock on the
date of each sale without any fixed discount to the market price.
At the Company's sole option, Fusion Capital can be required to
purchase lesser or greater amounts of common stock each month up to
$8.0 million in the aggregate. The Company has the right to control
the timing and the amount of stock sold to Fusion Capital within
certain limits. Global Med also has the right to terminate the
agreement at any time without any additional cost. Fusion Capital
has agreed not to engage in any direct or indirect short selling or
hedging of the common stock in any manner whatsoever. A more
detailed description of the transaction is set forth in the
Company's report on Form 8-K, recently filed with the SEC. (Logo:
http://www.newscom.com/cgi-bin/prnh/20040226/GLOBALMEDLOGO ) Mick
Ruxin, M.D., Chairman and CEO of Global Med, commented, "This new
financing with Fusion Capital will provide the Company with a value
added partner and a flexible source of capital to help redeem
preferred stock and pay down debt obligations, as well as to help
fund expansion. We are very excited about this transaction and look
forward to working with Fusion Capital to explore opportunities
that we believe the Company can leverage to expand and further
develop its operations, products, and market share." About Fusion
Capital Fusion Capital Fund II, LLC is a broad based investment
fund, based in Chicago, Illinois. Fusion Capital makes a wide range
of investments ranging from special situation financing to
long-term strategic capital. About Global Med Technologies, Inc.
Global Med Technologies, Inc. is an international e-Health, medical
information technology company, providing information management
software products and services to the healthcare industry. Its
Wyndgate Technologies division is a leading supplier of information
management systems to U.S. and international blood centers and
hospital transfusion centers. Current clients of Wyndgate's
products and services manage more than 3 million units of blood, or
over 22% of the U.S. blood supply, each year. Wyndgate's products
are also being implemented in Canada, the Caribbean and sub-Saharan
Africa. Together, the SafeTrace Tx(R)* advanced transfusion
management system and the SafeTrace(R) donor management system
provide Vein-to-Vein(R) tracking from donor collection to patient
transfusion. For more information about Global Med's products and
services, please call 800-WYNDGATE or visit
http://www.globalmedtech.com/, http://www.peoplemed.com/ and
http://www.wyndgate.com/. This news release may include statements
that constitute forward-looking statements, usually containing the
words "believe," "estimate," "project," "expects" or similar
expressions. These statements are made pursuant to the safe harbor
provisions of the Private Securities Litigation Reform Act of 1995.
Forward-looking statements inherently involve risks and
uncertainties that could cause actual results to differ materially
from the forward-looking statements. By making these
forward-looking statements, the Company undertakes no obligation to
update these statements for revisions or changes after the date of
this news release. * Patent Pending
http://www.newscom.com/cgi-bin/prnh/20040226/GLOBALMEDLOGO
http://photoarchive.ap.org/ DATASOURCE: Global Med Technologies,
Inc. CONTACT: Press Inquiries, Patti Larson, Senior Director of
Marketing Development, +1-916-404-8492, , or Investor Inquiries,
Tom Marcinek, President and COO, +1-916-404-8413, , both of Global
Med Technologies, Inc. Web site: http://www.globalmedtech.com/
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