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Oxford Ventures, Inc. Signs Definitive Merger Agreement to Acquire ULURU Inc.; Completes $13 million Convertible Debenture Offering; Enters $30 Million Standby Equity Distribution Agreement
October 12, 2005 16:04:01 (ET)
MESA, Ariz., Oct 12, 2005 (BUSINESS WIRE) -- Oxford Ventures, Inc. (OTC Bulletin Board : OXFV.OB)("Oxford") today announced that it has signed a definitive merger agreement to acquire ULURU Inc. ("ULURU"), a private Delaware company that focuses on advanced topical delivery of pharmaceutical agents. Separately, today ULURU announced the acquisition of the topical product assets of Access Pharmaceuticals, Inc. in a transaction valued at up to $20.7 million. Attached to this press release is a copy of the ULURU press release announcing the acquisition of the topical product assets.
Under the terms of the merger agreement, ULURU will become a wholly owned subsidiary of Oxford on the terms previously disclosed in our Form 8K filling with the Securities and Exchange Commission on September 13, 2005. In conjunction with the proposed acquisition, Oxford completed two financing transactions with an investor group including Highgate House Funds, Ltd. and Cornell Capital Partners LP. In the first transaction, Oxford has received a commitment for the sale of $15 million of secured convertible debentures, of which $13 million has been funded with the balance to be received upon the effectiveness of a registration statement filed with the Securities and Exchange Commission allowing for the resale of shares issued in connection with a Standby Equity Distribution Agreement. In the second financing, Oxford entered into a Standby Equity Distribution Agreement for up to $30 million.
Commenting on the recent developments, Daniel Leonard, President & CEO of Oxford, stated, "We have evaluated numerous opportunities for the company and believe that this series of transactions gives our shareholders the best opportunity to maximize returns. ULURU offers exciting potential as it has a developing revenue base and technologies from which significant product opportunities may be developed."
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i hope everyone is having a good morning along with me! i dont know what to say...i guess ill keep watching
Posts: 2329 | From: MD | Registered: Jul 2005
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If this thing goes past 56 like I think it will in a minute this second run will be gigantic..
Posts: 562 | From: NY | Registered: Jul 2005
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i got back in. the only thing i can do is let it sit there all day and sell tomorrow. good luck all
Posts: 2329 | From: MD | Registered: Jul 2005
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haha yes i will. even if it stays above my buy in price i will be happy. and the best thing is when that sell off occured it didnt drop at all
Posts: 2329 | From: MD | Registered: Jul 2005
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