Total Nutraceutical Solutions, Inc. (OTCBB:TNUS.OB), reported the receipt of approximately $509,500 in a private placement of units of restricted common stock. The units were priced at $.50 per unit; Each unit is comprised of 2 Shares of Restricted Common Stock and One "A" Stock Purchase Warrant to Purchase One Additional Share of Common Stock at $.75 Per Share and One "B" Stock Purchase Warrant to Purchase One Additional Share of Common Stock at $1.00 Per Share For a Period of Three Years.
Proceeds from the funding will be used to research, formulate, and launch medicinal mushroom nutraceutical dietary supplements utilizing innovative technology controlled by Total Nutraceutical Solutions, Inc. (TNS).
"This raising of capital allows TNS to launch and market its new product line of specially formulated mushroom nutritional supplements," said TNS CEO, Marvin S. Hausman, MD. Dr. Hausman further stated that "Funds will also be directed to the further development of a specialty mushroom containing high levels of Vitamin D2. The production of this potential super food is being developed in accordance with the TNS option to license agreement for "Rapid Generation of Vitamin D2 from Mushrooms and Fungi Using Pulsed UV-light." http://www.foodscience.psu.edu/VitaminDEnrichment.pdf
This press release shall not constitute an offer to sell or the solicitation of an offer to buy any security. The securities have not been registered under the Securities Act of 1933, as amended, or any state securities laws. Unless so registered, the restricted common stock may not be offered or sold in the United States absent an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and any applicable state securities laws.
About Total Nutraceutical Solutions, Inc:
Total Nutraceutical Solutions, Inc. is an emerging nutraceutical company with a focus on discovering, formulating and marketing products composed primarily of organic natural mushroom compounds that contain bioactive nutrients for potential health benefits. TNS develops production and analytic technologies for food and nutritional supplements composed primarily of mushrooms and their mycelial biomasses. Novel clinical models and biomarkers are used to show nutritional and clinical efficacy of our products. In addition to preventative healthcare formulations and nutritional approaches to a wide variety of human conditions and illnesses, TNS also develops and acquires breakthrough nutritional tools and products in the fields of animal husbandry and livestock feeds.
Any statements contained in this press release that relate to future plans, events or performance are forward-looking statements that involve risks and uncertainties including, but not limited to, the risks associated with the transaction described in this press release, and other risks identified in the filings by Total Nutraceutical Solutions (TNS), Inc. with the Securities and Exchange Commission. Further information on risks faced by TNS are detailed in the Form 10-K for the year ended July 31, 2008 and in its subsequent Quarterly Reports on Form 10-Q. These filings are or will become available on a website maintained by the Securities and Exchange Commission at http://www.sec.gov. The information contained in this press release is accurate as of the date indicated. Actual results, events or performance may differ materially. TNS does not undertake any obligation to publicly release the result of any revision to these forward- looking statements that may be made to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.