OXIS International, www.oxis.com – the developer of revolutionary products in the fight against diseases of oxidative stress/inflammation typical of free radical and reactive oxygen species (ROS) damage, reported today a $250k strategic equity investment and $750k line of credit from leading pharmaceutical/nutrition industry giant Gemini Pharmaceuticals.
Gemini has been manufacturing private label OTC’s and nutraceuticals/supplements for over 30 years and is the primary product development and manufacturing partner for OXIS.
Full cGMP certification is a strong guarantee that the FDA licensed and registered Gemini, whose facility offers unmatched manufacturing precision and a full on-site laboratory, will deliver the best product and packaging available.
The agreement has Gemini picking up 1,666,667 convertible preferred shares ($0.15/share) at roughly a 50% premium over market price of OXIS common shares.
A rate of prime plus 2% per year on the credit line makes this a perfect opportunity for OXIS to advance the commercialization of nutritional supplements built on a proprietary platform utilizing the Company’s incredibly dynamic anti-oxidant, L-Ergothioneine (ERGO).
CEO of OXIS, Anthony Cataldo, explained that earlier involvement between the two companies, directed towards developing the Company’s ERGO technology, has culminated in this “important endorsement” by Gemini.
Cataldo called the purchasing of shares at an above-market price, credit line offered at ‘A-class’ terms and genuinely supportive engagement from Gemini, a clear indication that the profit potential of the patented process created and owned by OXIS is huge.
This process allows for synthesis of commercial quantities of ERGO in a form which is ideal for supplements due to stability/high water solubility.
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