latest news releases from the newsroom
AmeriCares to Deliver Aid to Bulgaria
NEW CANAAN, Conn., June 5, 2001 (PRIMEZONE) -- AmeriCares, the
international disaster relief and humanitarian aid organization,
announced today that it was airlifting approximately 68,000 pounds
of medical relief supplies to Sofia, Bulgaria on Tuesday, June 5.
The airlift will consist of essential drugs, antibiotics,
analgesics, medicines and medical supplies, which will be
distributed on a nationwide scale.
Competitive Technologies, Inc.
Competitive Technologies Licensee Presents PT-141 Efficacy Data On ED
FAIRFIELD, Conn., June 5, 2001 (PRIMEZONE) -- Competitive Technologies, Inc. (AMEX:CTT) announced today that scientists at its exclusive licensee, Palatin Technologies, Inc. (AMEX:PTN), in collaboration with the Oregon Regional Primate Center in Beaverton, Ore., presented today results of preclinical animal efficacy studies of PT-141, Palatin's investigational treatment for male erectile dysfunction (ED). Efficacy was evaluated by PT-141's ability to cause penile erections in both primate and rodent species. Results were presented in abstract form at the annual American Urological Association meeting in Anaheim, Calif. These results, in conjunction with the recent positive Phase I human safety evaluation of PT-141, support PTN's plan to commence Phase II human efficacy trials.
Frontline Acquisition: Purchase of Ships from Bergesen
OSLO, Norway, June 5, 2001 (PRIMEZONE) -- Frontline Ltd.'s (Nasdaq:FRONY) board has finally approved to participate, with a 33% interest, in a consortium, which will be established to buy 4 VLCC's from Bergesen for a total price of USD 321 million. The remaining interest in the joint venture will be taken up by other partners in Tankers International. The ships will be financed through the joint venture and it is anticipated that Frontline's equity investment in the 4 ships will be less than USD 35 million.
Careside Completes Private Placement of Convertible Preferred Securities
CULVER CITY, Calif., June 5, 2001 (PRIMEZONE) -- Careside, Inc. (AMEX:CSA), a provider of point-of-care blood analysis instrumentation and records management, today announced the successful completion of a private round of financing, raising more than $10 million of gross proceeds in a placement of preferred stock and warrants. The Company sold shares of Series C Convertible Preferred Stock that will convert into approximately 5.2 million shares of Common Stock based upon a conversion price of $1.94 per share of Common Stock. In addition to the share of Series C Stock, each purchaser was issued a warrant to purchase an additional share of common stock for $2.55 per share. Proceeds will be used primarily to support the Company's manufacturing, sales and marketing efforts. The securities sold in this private placement have not been registered under the Securities Act of 1933, as amended, and may not be offered or sold in the United States in the absence of an effective registration statement or exemption from registration requirements. The company expects to file a registration statement on Form S-3 promptly after the closing of the transaction for purposes of registering the resale of the shares of common stock issued in the private placement.
Telenor to Provide Satellite Communication for NATO's Peace Keeping Operations
OSLO, Norway, June 5, 2001 (PRIMEZONE) -- Telenor (Nasdaq:TELN) has been awarded a contract for the installation and operation of a satellite communication system connecting NATO headquarters in Brussels with NATO's peace keeping forces in Kosovo (KFOR) and Bosnia Herzegovina (SFOR). The contract's estimated value is approximately NOK 140 million for a period of three years. The network, serving 17 locations with satellite and microwave communication, will be in operation by the end of 2001.