VANCOUVER, BRITISH COLUMBIA--(Marketwired - Sept. 12, 2013) - TerraBioGen Technologies Inc., a developer of proprietary technologies for the production of organic-based, high-value agriculturally bioactive products, announces that it has closed the second round of a private placement.
Originally announced on March 2, 2013, the private placement was for up to 84,000 units at $10.00 per unit with each unit consisting of one common share and one warrant exercisable at $12.00 per share for 5 years. The first tranche of 41,000 units closed in May 2103 and the second tranche of 43,000 units has closed in September 2013.
These funds will be applied primarily to the Company's research and development activities. TerraBioGen is actively working on the development and formulation of agriculturally bioactive compounds. The Company has conducted extensive growing trials this summer with a focus on the formulation and delivery of these materials to a wide range of crops, and will be receiving the results over the next few months.
TerraBioGen Technologies Inc. is committed to research and development to continue to improve the efficiency of its technology, its methodology and the quality of its agricultural products. It is further committed to developing a world-wide marketing capability to ensure market acceptance of its products.
This news release contains certain statements that may be deemed "forward-looking" statements. Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Although TerraBioGen believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in forward looking statements. Forward looking statements are based on the beliefs, estimates and opinions of TerraBioGen's management on the date the statements are made. Except as required by law, TerraBioGen undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.
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