MORRISTOWN, N.J., Dec. 27, 2011 /PRNewswire/ -- BioNeutral Group, Inc. (OTCBB: BONU), a specialty life science technology-based company, today announced that it has received $400,000 in connection with the Preferred Stock Purchase Agreement (the "Agreement") with Vinfluence Pty Ltd ("Vinfluence"), New South Wales, Australia. Pursuant to the Agreement, BioNeutral Group, Inc. received $200,000 from the initial closing and a second funding of $200,000, both from the sale of Series C Convertible Preferred Stock. As per the Agreement the company will receive monthly funding of $200,000 for each of the next three months, for a total funding of $1M. Further details of the Preferred Stock Purchase Agreement can be found in our SEC filings.
Frank Battafarano, Chairman of the Board of BioNeutral Group, said, "We are pleased to have completed the closing with Vinfluence providing us with $400,000 in working capital. Our recent financing has provided us with the opportunity to develop and further enhance our relationships with both new and existing key vendors and suppliers. We look forward to our relationship with Vinfluence in 2012 providing us with access to additional equity-based financing helping us to further commercialize our products."
About BioNeutral Group, Inc.
Headquartered in Morristown New Jersey with lab facilities at the New Jersey Institute of Technology in Newark New Jersey, BioNeutral Group, Inc. is a specialty technology-based life-science company which has developed a technology platform that neutralizes harmful environmental contaminants, toxins and dangerous micro-organisms including bacteria, viruses, mold, fungi and spores. BioNeutral's products, Ygiene® and Ogiene®, kill germs and clean surfaces with a dramatic increase in speed and power over their rivals in the marketplace. BioNeutral's proprietary platform technology has been proven effective in surface, water and airbor
|SOURCE BioNeutral Group, Inc.|
Copyright©2010 PR Newswire.
All rights reserved