OCLG.0048.HUGE ALERT.TREMENDOUS NEWS OUT.OCLG Continues Debt Reduction Strategy; Strengthens Company's Stock Position and Shareholder Value
Marketwired Oncologix Tech, Inc.
52 minutes ago
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ALEXANDRIA, LA--(Marketwired - Oct 7, 2014) - Oncologix Tech Inc. (OTC PINK: OCLG) (PINKSHEETS: OCLG), a fully reporting, diversified medical holding company with operating units in medical device, healthcare services, medical products and technologies, announces the continuation of its convertible debt reduction strategy by extinguishing a convertible note last week.
Wayne Erwin, OCLG's Chief Executive Officer, remarked, "We continue to execute our strategic financial initiatives focused on increased shareholder value by reducing convertible debt prior to its conversion next week. Our strategy is to continue to repay upcoming convertible notes prior to their conversion into common stock. This pay off returns to treasury 25,000,000 shares that were reserved if this note was converted."
Mr. Erwin further commented, "Our continued debt reduction strategy benefits the company in multiple ways including decreasing the downward pressure of the stock, reducing corporate debt, and an improving our balance sheet. It is our belief that this plan, together with strategic acquisitions, will greatly increase our shareholder value."
About Oncologix Tech
Oncologix is a diversified medical holding company that operates and manufactures Class II medical device products, delivers Personal Health Care Services, and sales and distribution of durable and home medical products. For its clients, Oncologix provides FDA approved medical devices, state licensed healthcare services, and medical products and technologies. For its shareholders, Oncologix operates profitable business divisions that build, maintain and nourish shareholder value. The Company's corporate mission is to be the best small cap medical device and healthcare services holding company in North America.
This press release may contain forward-looking statements, made in reliance upon Section 21D of the Exchange Act of 1934, which involve known and unknown risks, uncertainties or other factors that could cause actual results to differ materially from the results, performance, or expectations implied by these forward-looking statements. The Company's expectations, among other things, are dependent upon economic conditions, continued demand for its products, the availability of raw materials, retention of its key management and operating personnel, its ability to operate its subsidiary companies effectively, need for and availability of more capital as well as other uncontrollable or unknown factors which are more fully disclosed in the Company's filings with the Securities and Exchange Commission.
Contact:
CONTACT INFORMATION
Wayne Erwin
Chairman and CEO
wayneerwin2@yahoo.com
(318) 451-9543
