CybeRelease: (OTC BB: BSLM) Completes Initial Closing of Private Placement
(CybeRelease, June 23, 2006) - Lake Harmony - Bio-Solutions Manufacturing, Inc. (OTCBB: BSLM - News; Frankfurt: B2T.F - News) announced today that it has completed the initial closing of $1,000,000 of a $2,250,000 private placement with European institutional investors. In the placement, Bio-Solutions issued 2,500,000 units, each unit consisting of one share of common stock and a warrant to purchase one share of common stock at $0.80 per share, at a purchase price of $0.40 per unit. The company intends to keep the placement open for a reasonable period of time to accept additional subscriptions for the remaining $1,250,000 worth of units being offered. Bio Solutions retained T&T Vermogensverwaltungs AG of Switzerland as its investment banker for the transaction.
“T & T has financed many companies in the US and Europe and is looking forward to working with Bio-Solutions Manufacturing, a revolutionary bioremediation and bio-diesel company,” says Mr. Ivano Anglestri, T & T’s President.
“We are very pleased to have T & T as a business partner and we are looking forward to the opportunities this venture will bring,” says Mr. David Bennett, President and CEO of Bio-Solutions Manufacturing. “This funding gives us the ability to develop and market our biodiesel and environmental products.”
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