VANCOUVER BC, July 4, 2016 – L.O.M. Medical International Inc. (the “Company” or “L.O.M.”) recently advised its shareholders of the progress made by Symbient Product Development Inc. of CA, USA (“Symbient”) to complete the design of the 3 ml Retractable L.O.M. Syringe molds. Following the U.S. visit of Martin Degen from our certification consultants — E C Medical Experts from Holland — L.O.M. has received a positive assessment of the development, design and technical achievement of Symbient’s engineers. Symbient has committed to a delivery date of late August for the molds to be air freighted to our OEM (Original Equipment Manufacturer) to produce the first 20,000 syringes.
As of last week L.O.M. had commenced with our $10,000,000 $7.00 (Canadian) per share Private Placement (the “Placement”) in London and Switzerland. Unfortunately though sales had begun, so did BREXIT. The UK & EU are currently unstable for investment purposes. L.O.M. cannot halt the progress we have all hoped for and now achieved, while awaiting the financial markets return to normality. We need the funds without delay, so the first 20,000 syringes will be available for laboratory testing to secure CE, FDA, and Chinese FDA certifications as well as Territorial or IP Marketing.
The Board decided to offer Shareholders and certain investors the opportunity to participate in a short Term Bridging Loan of $2,000,000 while refining the Placement. The $2,000,000 Bridging Loan would be repaid with a portion of the $10,000,000 Placement as soon as the markets are in an improved environment.
The Bridging Loan of $2,000,000 has been approved by the BOD. The terms and conditions are as follows:
• Loan Amount $2,000,000
• Security LOM Promissory Note for amount subscribed
• Interest. 8% pa payable quarterly in arrears
• Term 18 months from closing
• Warrants 15 warrants per $1,000 investment subscribed at $7.00 per share
The Placement of the Bridging Loan has begun and we hope that all accredited shareholders will take this opportunity to subscribe.
For more information regarding the Bridging Loan or anything concerning the Corporation please send an email to email@example.com with your contact details and we will have a representative call to discuss further with you.
About L.O.M. Medical International
Our unique, pneumatic retractable-needle safety syringe has been safety engineered to practically eliminate the risk of accidental needle-stick with a contaminated needle.
Use of our syringe will offer superior defence against and security from post-injection accidental needle-stick thereby serving to minimize the incidence of transmission of communicable blood-borne viral and bacterial disease causing pathogens to injection providers during medication, pharmaceutical and immunization delivery.
On behalf of the Board of Directors,
President and CEO
Except for statements of historical fact, this announcement contains certain “forward‐looking information” within the meaning of applicable securities laws. Forward‐looking information is frequently characterized by words such as “plan”, “expect”, “project”, “intend”, “believe”, “anticipate”, “estimate” and other similar words, or statements that certain events or conditions “may” or “will” occur. Forward‐looking statements are based on the opinions and estimates of management at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward‐looking statements. The Company undertakes no obligation to update forward‐looking information if circumstances or management’s estimates or opinions should change except as required by law. The reader is cautioned not to place undue reliance on forward‐looking statements.