FRANKLIN, Mass., Jan. 30 /PRNewswire-FirstCall/ -- Sontra Medical
Corporation (OTC: SONT.PK) announced today that it closed a $660,000 common
stock and warrant financing with Sherbrooke Parters, other accredited
investors and members of Sontra's board of directors and management. The
financing was originally expected to be for $600,000; however, as a result
of increased investor interest, it was increased by $60,000 to $660,000.
The Company issued 6,600,000 shares of common stock for $0.10 per share and
two- year warrants to purchase 1,650,000 shares of common stock at an
exercise price of $0.21 per share in the financing.
Certain members of Sontra's board of directors and management team
invested a total of $120,000 in the financing, as required by the investors
as a closing condition to the transaction.
The shares of common stock and the warrants offered and sold in the
private placement, and the shares of common stock underlying the warrants,
were not registered under the Securities Act, and therefore may not be
offered or sold in the United States absent registration or an applicable
exemption from registration. Sontra offered and sold the securities in
reliance on the statutory exemption from registration in Section 4(2) of
the Securities Act, and/or Regulation D promulgated thereunder. The
disclosure about the private placement contained in this press release does
not constitute an offer to sell or a solicitation of an offer to buy any
securities of Sontra, nor shall there be any sale of these securities in
any state or jurisdiction in which such offer, solicitation or sale would
be unlawful prior to registration or qualification under the securities
laws of any such state or jurisdiction.
About Sontra Medical Corporation (http://www.sontra.com)
Sontra Medical Corporation, a technology leader in transdermal science,
has been developing a non-invasive, continuous transdermal glucose monitor
("CTGM") for principal use in the Intensive Care Market. In addition, the
Company owns a platform technology, the SonoPrep(R) Permeation System, and
other technology for transdermal delivery of large molecule drugs and
vaccines.
The common stock and warrants to purchase common stock were offered and
issued solely to accredited investors in a transaction exempt from
registration pursuant to Section 4(2) of the Securities Act of 1933, as
amended, and/or Regulation D promulgated under the Securities Act.
SonoPrep is a registered trademark of Sontra Medical Corporation. All
other company, product or service names mentioned herein are the trademarks
or registered trademarks of their respective owners.
Investor Relations Contacts:
Harry G. Mitchell, Interim CEO
508-530-0311
hmitchell@sontra.com
SOURCE Sontra Medical Corporation
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Related links:
http://www.sontra.com/
CONTACT:
Harry G. Mitchell, Interim CEO, of Sontra
Medical Corporation, +1-508-530-0311, or hmitchell@sontra.com
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