BRTX News BioRestorative Therapies Obtains $2.1 Million in 2012 Private Financing

2012-04-10 09:01 ET - News Release

JUPITER, Fla., April 10, 2012 /PRNewswire/ -- BioRestorative Therapies, Inc.("BRT" or the "Company") (OTCQB: BRTX), a life sciences company focused on cellular therapies for various personal medical applications, announced today that it has completed multiple rounds of private financing in 2012 totaling approximately $2,100,000.  A total of approximately $1,600,000 was received as debt financing and an additional $500,000 was raised as equity.

Pursuant to the equity and note financing, the Company issued approximately 22,000,000 shares of restricted stock and 25,500,000 five year warrants to purchase BRT stock at prices between $0.03 - $0.035 per share. The debt is repayable over a period of six to twelve months with interest at the rate of 15% per annum.

"I am extremely pleased with the Company's continued growth as well as our ability to maintain consistent interest from investors and shareholders," commented BioRestorative Therapies CEO, Mark Weinreb.  "This financing provides the Company with resources to further advance our previously announced initiatives."