Puramed's $2 million two-year equity facility to fund drug marketing

Migraine treatment already in Walgreens, CVS pharmacies

By Sahara Marte

New York, July 19 - Puramed Bioscience Inc. plans to use most of the proceeds from its $2 million two-year committed equity facility for a new marketing campaign said Russell Mitchell, chief executive officer.

"We have everything in place," Mitchell told Prospect News. "Just have to make the noise."

The majority of proceeds will be allocated to promoting the company's newest drug.

Puramed Bioscience is launching a treatment for migraine headaches called LipiGesic M, which has already been distributed to Walgreens and CVS pharmacies.

The committed equity facility will provide the quick funding and potential cash flow to "jump-start" the campaign, Mitchell said.

The facility with TCA Global Credit will create an on-going financial relationship, he added.

After actively searching for funding opportunities, the company has been approached by several potential investors. It is planning further transactions for the near future, said Mitchell.

As previously reported, under the terms of the equity facility Puramed can sell up to $2 million of stock over a two-year period. The price per share will be equal to 95% of the lowest daily volume weighted average price of the company's common stock during the five consecutive trading days following an advance notice. TCA will receive a $115,000 facility fee.

Based in Schofield, Wis., Puramed Bioscience develops and markets a line of non-prescription medicinal or healthcare products.

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