Sunrise, FL – October 2, 2015 – US STEM CELL, Inc., a Florida corporation, (in transition from Bioheart, Inc. (BHRT.OB)) a leader in the regenerative medicine, cellular therapy industry providing physician based stem cell therapies to human and animal patients as well as a developer of novel autologous cell therapies, is pleased to announce the completion of important transactions with ClearIt, LLC and Magna Equities II, LLC (“Magna”).
With ClearIt, LLC, the Company has secured the right to purchase up to a 15% non-consolidating membership stake in ClearIt and distribution rights to the ERASER™ System within the regenerative medicine industry. As previously announced, the ERASER™ system, if cleared by the US FDA (anticipated, but not guaranteed, for early 2017), we believe will be the first effective, painless, single treatment tattoo removal system that approaches 100% particle removal from the dermis while safely avoiding the side-effects of laser tattoo removal including scaring, skin color bleaching, shadow tattoos or absorption by the body of harmful minerals or chemical elements. ClearIt and US Stem Cell will also collaborate in the development of combination ERASER™/cell therapies for the treatment of acne, acne scars, psoriasis and certain skin cancer treatments.
With Magna, the Company has completed a $100,000 financing through a convertible note with a fixed conversion price. In connection with the execution of the convertible note, the Company and Magna also entered into a registration rights agreement whereby the Company has agreed to file an initial registration statement with the U.S. Securities & Exchange Commission. Details of this transaction are outlined in the Current Report on Form 8-K filed with the Securities and Exchange Commission on October 2, 2015.
Company President and CEO, Mr. Mike Tomas, stated, “We are very pleased to be partnering with ClearIt in the development and future marketing of the ERASER™ System, which in the near and long-term will provide substantial value, revenues and profit to US Stem Cell, Inc. We are also pleased to continue our financial partnership with Magna who continues to believe in and support our strategic building plan. We also deeply appreciate our shareholder support in the actions we have and are taking to build US Stem Cell into a world class company."
