Nerium Biotechnology, Inc.

March 09, 2011 17:15 ET

Nerium Biotechnology, Inc. Completes US$500,000 Private Placement

SAN ANTONIO, TEXAS--(Marketwire - March 9, 2011) - Nerium Biotechnology, Inc. ("the Company") is pleased to announce that it has completed a non-brokered private placement of US$500,000 to a single U.S. investor. The Company has issued 500,000 Series "A" Convertible Preference Shares, without nominal or par value at a price of US$1.00 per share. The Series "A" Convertible Preference Shares are non-voting, do not pay dividends, contain no redemption or retraction rights and are entitled upon dissolution or liquidation of the Company to repayment of the amount paid for such shares in priority to the common shares, but shall not be entitled to any further participation in profits or assets. Each Series "A" Convertible Preference Shares may, at the option of the holder, be converted into one common share of the Company at any time after March 31, 2011 but before December 31, 2012. Any transfer of the Series "A" Convertible Preference Shares requires the approval of the directors or shareholders of the Company. The full provisions attaching to the Series "A" Convertible Preference Shares are being filed concurrently with this press release on the Company's filings on SEDAR at

About Nerium Biotechnology, Inc.

The Company is a biotechnology company involved in the development of oleander-based products for the treatment of certain forms of proliferative diseases, viral infections and skin conditions. Anvirzel™, the Company's lead product, is an oleander extract-based botanical drug which contains cardiac glycosides. Anvirzel™ is used as an adjuvant (or, in some cases, stand-alone) agent in the treatment of certain types of cancer, and is manufactured and sold through the Company's Latin American operations, based in Tegucigalpa, Honduras.

The Company is a reporting issuer in good standing in the Province of Ontario whose shares are not listed on any stock exchange or quotation system. There are 31,544,681 common shares and 500,000 Series "A" Convertible Preference Shares issued and outstanding following the completion of the private placement.

Forward Looking Statements: Statements made in this news release that relate to future plans, expectations, events or performances are forward looking statements. Such statements involve risks and uncertainties and are based on current expectations. Consequently, actual results could differ materially from the expectations expressed in these forward-looking statements.

Contact Information

  • Nerium Biotechnology, Inc.
    Dennis R. Knocke