MabCure Closes US$1.3 Million Private Placement
July 07 2008 - 8:00AM
Marketwired
RENO, NV (the "Company" or "MabCure") -- The Company is pleased
to announce that it has completed today a private placement of
1,300,000 units at a price of US$1.00 per unit for aggregate
proceeds of US$1,300,000. Each unit consists of: (i) one share in
the common stock of the Company, (ii) one common stock purchase
warrant exercisable at a price of US$1.25 per share for a period of
one year from the date of closing and (iii) one common stock
purchase warrant exercisable at a price of US$1.25 per share for a
period of two years from the closing date. This financing has been
arranged to provide the Company with working capital to pursue the
acquisition announced November 30, 2007.
The securities offered in the private placement were not
registered under the Securities Act of 1933 as amended (the "Act"),
and may not be offered or sold in the United States absent
registration, or an applicable exemption from registration, under
the Act.
About MabCure
MabCure is a biotechnology company whose vision is to change the
perception of cancer as a largely incurable disease. MabCure has
created unique and highly specific Mabs against several cancers
which could potentially identify these diseases in their earliest
stage. These Mabs are the first candidates for the development of
novel diagnostic tools, imaging agents and drugs to treat the
corresponding cancers. MabCure's primary mission is to develop
novel diagnostics for the early detection of cancer when the
disease is still localized and treatable, and where the chances for
cure are greater than 90 percent. For further information visit the
Company's website www.mabcure.com.
This news release contains "forward-looking statements," as that
term is defined in Section 27A of the United States Securities Act
of 1933, as amended, and Section 21E of the United States
Securities Exchange Act of 1934, as amended. Statements in this
news release which are not purely historical are forward-looking
statements and include any statements regarding beliefs, plans,
expectations or intentions regarding the future. Such
forward-looking statements include, among others, statements as to
the intended uses of the proceeds received from the private
placement.
Actual results could differ from those projected in any
forward-looking statements due to numerous factors. Such factors
include, among others, the change of business focus of the
management of the Company and the inability of the Company to
pursue its current objectives. These forward-looking statements are
made as of the date of this news release and the Company assumes no
obligation to update the forward-looking statements, or to update
the reasons why actual results could differ from those projected in
the forward-looking statements. Although the Company believes that
the beliefs, plans, expectations and intentions contained in this
news release are reasonable, there can be no assurance those
beliefs, plans, expectations, or intentions will prove to be
accurate. Investors should consider all of the information set
forth herein and should also refer to the risk factors disclosed in
the Company's periodic reports filed from time-to-time with the
Securities and Exchange Commission and available at
www.sec.gov.
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Marketwire
For further information, please contact: Corporate
Communications 888-399-3989 Email Contact
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