| HAIFA, Israel--(BUSINESS WIRE)--June 20, 2006--Pluristem Life Systems,
Inc. (OTCBB:PLRS
- News), a cell
therapy company dedicated to the commercialization of stem cell
products, announces it has engaged Emerson Gerard Associates, Inc. as
the Company's media relations representative. Emerson Gerard will mount
a campaign to attract press, radio and TV coverage of Pluristem. Zami
Aberman, CEO of Pluristem states, "Emerson Gerard has been brought
aboard to increase our media exposure and media coverage. Their team can
effectively present Pluristem to the media and has been known to get
major media coverage for other emerging firms. We expect their campaign
to make us better known throughout the medical and investment
community."
"Getting the Pluristem PLX-1 story out to the media and working to get
it picked up is an exciting process. We certainly look forward to
telling the media about the company. To be part of the PLX-1 cure is a
truly honorable position; this is how we view our participation with the
Pluristem group," notes Jerry Jennings, President of Emerson Gerard.
About Pluristem
In conjunction with this financing, we issued 47,393,364 common share
purchase warrants exercisable for three years at an exercise price of
$0.075. We paid a finder's fee of 10% in cash and 9,478,672 three year
common share purchase warrants, half of which are exercisable at $0.075
and half of which are exercisable at $0.077.
The 7% Senior Secured Convertible Debentures, which mature on April 3,
2008, are convertible to common shares at the lower of 75% of the volume
weighted average trading price for the 20 days prior to issuance of a
notice of conversion by a holder of a Debenture, or, if while these
Debentures remain outstanding, we enter into one or more financing
transactions involving the issuance of common stock or securities
convertible or exercisable for common stock, the lowest transaction
price for those new transactions.
Interest accrues on the Debentures at the rate of 7% per annum, payable
semi-annually on June 30 and December 31 of each year and on conversion
and at the maturity date.
We have agreed to register the common shares issuable upon conversion of
the Debentures and exercise of the warrants.
Directors and officers of our company have also agreed not to sell any
of their shares in our company, unless purchased in the open market or
as part of certain private placements, until 6 months after the
investors' registration statement has been declared effective and to
limit the volume of their share sales thereafter.
Yossi Keret, CFO stated, "The Private Placement will enable us to
support the implementation of the strategy change we announced recently.
The market for cell-based products is enormous and we hope to become a
significant player in this exciting potential market."
The Company also announces the resignation of Doron Shorrer as the
Chairman of our board of directors and the appointment of Zami Aberman
as the Acting Chairman of our board.
Zami Aberman, President & CEO stated, "We would like to thank Doron
Shorrer for his contribution to the company. I am proud that I have been
elected to lead the strategic change of our company. I believe that
together with the management team of the company we will accomplish the
challenging task to become a significant player in the cell therapy
market."
Pluristem Life Systems, Inc. is a cell therapy company dedicated to the
commercialization of stem cell therapy products for the treatment of
severe blood disorders. Pluristem is discovering and developing
call-based therapeutics utilizing adult stem cells expanded in a
proprietary bio-reactor that mimics different naturally-occurring
physiological environments. Pluristem expects its first products to be
cell grafts that will provide an efficient and superior alternative to
the standard procedure of bone marrow transplantation to treat blood
cancer and other blood disorders.
Safe Harbor Statement
This news release contains statements, which may constitute
"forward-looking statements". Those statements include statements
regarding the intent, belief or current expectations of Pluristem Life
Systems, Inc., and members of our management as well as the assumptions
on which such statements are based. Forward-looking statements in this
release include that Emerson Gerard can effectively present Pluristem to
the media; that we expect their campaign to make us better known
throughout the medical and investment community, and that Pluristem
expects its first products to be cell grafts that will provide an
efficient and superior alternative to the standard procedure of bone
marrow transplantation.
Factors which may significantly change or prevent our forward looking
statements from fruition include that we may be unsuccessful in
developing any products; that Emerson Gerard is not able to raise our
profile because our methods are not accepted by the medical community;
that the medical and investment communities are unresponsive to Emerson
Gerard's methods to publicize our company; that our technology may not
be validated as we progress further and our methods may not be accepted
by the scientific community; that we are unable to retain or attract key
employees whose knowledge is essential to the development of our
products; that unforeseen scientific difficulties develop with our
process; that our patents are not sufficient to protect essential
aspects of our technology; that competitors may invent better
technology; that our products may not work as well as hoped or worse,
that our products may harm recipients; and that we may not be able raise
funds for development or working capital when we require it. As well,
our products may never develop into useful products and even if they do,
they may not be approved for sale to the public. For further risk
factors see the Company's latest 10-KSB filed with the SEC.
For more information visit our website at
www.pluristem.com
|
