Oncologix Tech completes $100,000 private placement of convertibles

Offering sells convertible notes with warrants to single investor

By Devika Patel

Knoxville, Tenn., May 28 - Oncologix Tech Inc. settled a $100,000 private placement of convertible notes on Jan. 8, according to an 8-K filed Wednesday with the Securities and Exchange Commission.

The note is convertible into common shares at $0.009 per share. The lone investor also received warrants. The warrant is exercisable at $0.009.

The conversion price of the notes and warrant strike price are a 10% discount to the Jan. 7 closing share price (OTCBB: OCLG) of $0.01.

The Grand Rapids, Mich., company has developed a brachytherapy device for the treatment of soft tissue cancer tumors in the liver.

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