Full Press Release Details
Inc. ANNOUNCES COMPLETION OF WARRANT CALL
Inc. ("IsoRay") (OTCBB Symbol: ISRY), the medical technology company focusing on
innovative treatments for solid cancer tumors using its proprietary Cesium-131
initially in brachytherapy seeds, announced today that all warrants that were
called on February 21, 2006 were exercised prior to the call date of March
2007 and thus raised an additional $4,989,000 of capital. The August financing
was led by MicroCapital LLC.
on 1,663,000 outstanding warrants issued in conjunction with the financing
successfully completed in August of 2006 resulted in all warrants being
exercised bringing in a total of $4,989,000 additional cash to IsoRay. The
proceeds from this offering, and the offering just completed for $16,522,000,
increase the cash position of IsoRay by $21,511,000 before offering costs.
funds will be used to expand IsoRay's sales and marketing, invest in plant and
equipment, inclusive of manufacturing technologies, which are expected to lower
the Company's production costs and could be used to expand the application of
medical isotopes beyond the prostate market," said Roger Girard, CEO and
press release does not constitute an offer to sell or the solicitation of a
offer to buy the shares of common stock or any other securities, nor will there
be a sale of the shares of common stock or any other securities in any state
jurisdiction in which such offer, solicitation or sale would be unlawful prior
to the registration or qualification under the securities laws of any such
Inc., through its subsidiary, IsoRay Medical, Inc., is the sole producer of
Cesium-131 brachytherapy seed, used to treat prostate and other cancers. The
Cesium-131 seed offers a significantly shorter half-life than the two other
isotopes commonly used for brachytherapy, which results in a substantially
faster delivery of therapeutic radiation, lower probability of cancer cell
survival and reduction of the longevity of common brachytherapy side effects.
is based in Richland, Washington. More information is available about IsoRay
Armpilia CI, Dale RG, Coles IP, et al. The Determination of Radiobiologically
Optimized Half-lives for Radionuclides Used in Permanent Brachytherapy Implants.
Int. J. Radiation Oncology Biol. Phys. 2003; 55 (2): 378-385.
Prestidge B.R., Bice W.S., Jurkovic I., et al. Cesium-131 Permanent Prostate
Brachytherapy: An Initial Report. Int. J. Radiation Oncology Biol. Phys. 2005;
press release includes statements that may constitute forward-looking statements
within the meaning of the Private Securities Litigation Reform Act of 1995.
forward-looking statements are subject to a variety of known and unknown risks,
uncertainties, and other factors that are difficult to predict and many of
are beyond management's control. Factors that can affect future results are
discussed in the documents filed by IsoRay from time to time with the Securities
and Exchange Commission. IsoRay undertakes no obligation to update or revise
forward-looking statement to reflect new information or events.
Schatzmair, Director of Investor Relations
Bartlett, The Bartlett Group Public Relations