L.O.M. MEDICAL INTERNATIONAL ANNOUNCES FUNDS RAISED FOR CONVERTIBLE DEBENTURE OFFERING
March 24, 2014 – L.O.M. Medical International Inc. (“LOM” or the “Company”) is pleased to advise its shareholders that it has closed three separate tranches of its convertible Debenture for proceeds of $1,683,350. The offering consists of a Convertible Debenture bearing interest at a rate of 8.00% per annum. The Debenture is convertible, at the election of the holder, into common shares of the Company at an exercise price of $5.00 at any time for a period of two years.
The Company has paid finder’s fee of 10% on the placement.
The Company will continue with the offering for the remaining $316,650 to reach it’s originally announced amount of the offering being $2 mill, and intends to use the proceeds from the placement to fund the completion of the LOM Syringe molds, gas cell mass production plant and marketing of the Company’s intellectual property and working capital.
L.O.M. Medical International Inc. was incorporated in Delaware, USA and is a developer of medical products for the health care industry. L.O.M. Medical is the owner of all the shares of L.O.M. Laboratories Inc. (“LOM Labs”), a company registered in the Province of Alberta Canada.
Micro Pneumatic Medical Devices or “MPMD” is the trade name for LOM Labs, and is also registered in Alberta.
1. The Retractable Syringe – LOM Medical has over several years, developed a pneumatic retractable needle syringe that offers superior protection from the risk of post-injection needle stick injuries. After injection, activation of a proprietary gas cell technology retracts the blood bearing needle into the barrel of the syringe, where it is locked in place and cannot be used again.
2. The Gas Cell – In tandem with the development of the syringe there has also been the creation of a manufacturing system enabling mass production of a gas cell, which retracts the needle of the syringe into the barrel after injection.
If you wish to learn more about this offering, please fill out and submit the form on this page, & an LOM investor representative will contact you with further details.