NEW YORK, Nov. 11, 2010 /PRNewswire-FirstCall/ -- Regenicin, Inc. (OTC Bulletin Board: RGIN) a biotechnology company specializing in the development of regenerative cell therapies to restore the health of damaged tissues and organs, today announced the closing of a private placement. Regencin secured proceeds of $467,550.25. In addition the company converted $500,000 of debt into equity.
The proceeds, net of placement agent fees and expenses, will be used to continue to develop its innovative regenerative medicine platform.
This announcement is neither an offer to sell nor a solicitation of an offer to buy any of these securities and shall not constitute an offer, solicitation or sale in any jurisdiction in which such offer, solicitation or sale is unlawful.
The securities have not been, and will not be, registered under the Securities Act of 1933, as amended, or any state securities laws and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements.
Regenicin, Inc. is a development stage biotechnology company. Regenicin is a publicly traded company, with headquarters in New York. Additional information can be found in the company's filings with the Securities and Exchange Commission located at www.sec.gov.
Safe Harbor Statement
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These forward-looking statements are based on the current plans and expectations of management and are subject to a number of uncertainties and risks that could significantly affect the company's current plans and expectations, as well as future results of operations and financial condition. A more extensive listing of risks and factors that may affect the company's business prospects and cause actual results to differ materially from those described in the forward-looking statements can be found in the reports and other documents filed by the company with the Securities and Exchange Commission. The company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
SOURCE Regenicin(TM), Inc.