Oragenics Announces the Exercise of Warrants and a Management Change
12 Février 2008 - 9:44PM
Marketwired
ALACHUA, FL announced today that seven shareholders who received
warrants as part of their March 2006 investment in Oragenics have
exercised stock warrants which will provide the company with an
additional $0.5 million. The shareholders who exercised their
warrants included two members of Oragenics' Board of Directors and
a former Chief Executive Officer (CEO)/President. The company plans
to use the proceeds of this warrant exercise to support its lead
product development programs.
Dr. Jeffery Hillman, Oragenics' Chief Scientific Officer,
stated, "We appreciate the confidence and support expressed by our
shareholders, Board members, and our former CEO/President as our
company continues to progress toward achieving its strategic
goals." With the exercise of these warrants, approximately 1.1
million warrants from the March 2006 private placement have been
exercised.
Company Management: Dr. Ronald P. Evens, interim CEO/President
and Director, notified the Board of his intention to resign as
CEO/President effective February 12, 2008, so that he can devote
more time to the activities of his own company and his family. Dr.
Evens will continue to serve as a member of Oragenics' Board of
Directors. The Board of Directors thanked Ron Evens for his
valuable service to Oragenics as interim CEO.
Mr. Gury announced that Mr. Stanley B. Stein, a recently
appointed director, has accepted the role of interim CEO/President
until a permanent CEO can be appointed. Dr. Jeffrey Hillman, Dotti
Delfino and David Gury remain the CSO, CFO and Chairman,
respectively. Finally, there have been no changes with regards to
other employees or to the scientific and development team which
will continue to work under Dr. Hillman's direction.
About Oragenics: Oragenics, Inc. is a biopharmaceutical company
with a pipeline of proprietary technologies. The Company has a
number of products in discovery, preclinical and clinical
development, with a concentration in the main therapeutic area of
infectious diseases. Our core pipeline includes products and
supporting platform technologies for use in the treatment and
diagnosis of bacterial infections.
Safe Harbor Statement: Under the Private Securities Litigation
Reform Act of 1995: This release includes forward-looking
statements that reflect Oragenics' current views with respect to
future events and financial performance. These forward-looking
statements are based on management's beliefs and assumptions and
information currently available. The words "believe," "expect,"
"anticipate," "intend," "estimate," "project" and similar
expressions that do not relate solely to historical matters
identify forward-looking statements. Investors should be cautious
in relying on forward-looking statements because they are subject
to a variety of risks, uncertainties, and other factors that could
cause actual results to differ materially from those expressed in
any such forward-looking statements. These factors include, but are
not limited to those set forth in our most recently filed annual
report on Form 10-KSB and quarterly report on Form 10-QSB, and
other factors detailed from time to time in filings with the
Securities and Exchange Commission. We expressly disclaim any
responsibility to update forward-looking statements.
Contact: Oragenics, Inc. Dotti Delfino 386-418-4018 X232
www.oragenics.com
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