Samaritan Announces $40 Million Common Stock Purchase Agreement and Compliance with AMEX Additional Share Registration
09 Février 2006 - 3:58PM
Business Wire
Samaritan Pharmaceuticals Inc. (AMEX:LIV) a developer of innovative
drugs, announced today, it has entered into a third financial
transaction with Fusion Capital; and received approval to list
additional shares of its common stock, as part of the $40 million
Fusion Capital Common Stock Purchase Agreement from the American
Stock Exchange ("AMEX"). On December 29, 2005, Samaritan received
notice from the SEC that its $40 million SB-2 registration for a
common stock purchase agreement with Fusion Capital Fund II, LLC
went effective. Dr. Janet Greeson, CEO of Samaritan stated, "We are
very excited to be partnered with such a well respected group as
Fusion Capital. We think their third investment is a strong vote of
confidence in the technology we are developing and the path of
Samaritan Pharmaceuticals." On January 18, 2006, the Company filed
an application to list additional shares on the AMEX. On February
7, 2006, the Company received a warning letter (Section 301 of the
AMEX Company Guide) stating that we issued common stock, in
connection to commitment shares with the Fusion Capital Common
Stock Purchase Agreement, without first obtaining the AMEX approval
for such issuances. Subsequently, on February 8, 2006, the Company
received approval notification for the application to list
additional shares on the AMEX. Samaritan Pharmaceuticals: "We
LIV....to Save Lives." Samaritan Pharmaceuticals is a drug
development company driven to discover, develop, and commercialize,
innovative therapeutics' for AIDS, Alzheimer's, Cancer and Heart
disease. Samaritan, in collaboration with Georgetown University, is
advancing eight promising compounds, out of its rich pipeline of
250 possible drug candidates, all of which have the potential to
create revenue-generating opportunities. Additional information is
at www.samaritanpharma.com. Disclaimer The company disclaims any
information that is created by an outside party and endorses only
information that is communicated by its press releases, filings and
Web site. This news release contains forward-looking statements
that reflect management's current beliefs about the potential for
its drug candidates, science and technology. However, as with any
biopharmaceutical under development, there are significant risks
and uncertainties in the process of development and regulatory
review. There are no guarantees that products will prove to be
commercially successful. For additional information about the
factors that affect the company's business, please read the
company's latest Form 10-K filed April 15, 2005. The company
undertakes no duty to update forward-looking statements.
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