Dr. Hausman not a quack but the stock dealings of AXYX & OXIS are hard to follow.
NEWS & PUBLICATIONS
OXIS International Announces Closing of $1.5 Million in Private Financing, and Appointments of Two New Directors
PORTLAND, OR - March 20, 2002 – OXIS International, Inc. (OTC BB: OXIS and Nouveau Marché: OXIS), a leading developer of diagnostic and therapeutic technologies to diagnose, treat and prevent diseases caused by oxidative stress, announced today the closing of the first phase of a private convertible preferred equity financing, in which $1.5 million USD was invested by Meridian Financial Group, LLP.
The Company hopes to increase this financing in a second phase offering in the near future for an additional $500,000 USD. The financing includes OXIS issuing warrants that may be exercised to purchase 1.5 million shares of common stock at $1 per share.
The Company also announced, as part of the financing, the appointments of two new Board members: Marvin S. Hausman, M.D. and Mr. Thomas M. Wolf.
"Completion of this phase of financing is an important step in the refocusing of OXIS," said Ray R. Rogers, Chairman and C.E.O. "This funding will allow the Company to resume development of our most valuable resources. The addition to the Board of Dr. Hausman and Mr. Wolf brings new expertise to our efforts, as well." He added that both men will bring strong scientific and biotech knowledge, as well as years of industry experience.
Dr. Hausman has served as a Director and President & C.E.O. of Axonyx, Inc. since January 1997. He has 30 years of drug development and clinical care experience at various pharmaceutical companies, including Bristol-Meyers International, Mead-Johnson Pharmaceutical Company and Medco Research, Inc.
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