Home
Home Contact Us
Login About ChromaDex Products Services International Literature News Careers
Customer Registration
     
  ChromaDex™ News  
 

FOR IMMEDIATE RELEASE

CHROMADEX COMPLETES $4.67 MILLION CAPITAL
RAISE IN PRIVATE PLACEMENT TRANSACTION

IRVINE, CALIF., AUGUST 8, 2008 – ChromaDex Corporation (OTCBB: CDXC), a leader in the development of phytochemical and botanical reference standards, today announced that on July 29, 2008, it completed its last round of sales under a private placement it conducted with its wholly owned subsidiary ChromaDex, Inc., which consisted of the sale of a unit of one share of common stock and a warrant to purchase one half the shares of common stock purchased for a price of $1.36 per unit. The private placement, which was authorized for up to $6 million and has been on-going since March, yielded gross proceeds of approximately $4.67 million. Net proceeds after expenses are expected to be approximately $4.2 million. New Castle Financial Services acted as placement agent for the private placement.

Frank Jaksch, co-founder and Chief Executive Officer of ChromaDex, commented, “Subsequent to our recent emergence as a publicly-traded company through completion of a reverse merger, today we are pleased to announce the closing of this private placement to provide ChromaDex with additional working capital to support our business expansion plans. We are pleased with the amount raised and confident this financing will help position ChromaDex to support the next phase of growth in our quest to become the premier provider of phytochemical and botanical reference standards to the functional food, cosmetic, dietary supplement, pharmaceutical / life sciences and other industries.”

ChromaDex expects to use the net proceeds to fund organic expansion as well as for general corporate purposes and working capital. Neither the sale nor issuance of the shares of common stock, warrants or the shares of common stock underlying the warrants in this transaction have been registered under the Securities Act of 1933, as amended, or applicable state securities laws and will not be offered, sold or transferred absent registration or an exemption from registration.

About ChromaDex
ChromaDex is a leader in the development of Phytochemical and Botanical Reference Standards and the creation of associated intellectual property. ChromaDex is committed to sustainable, “Green chemistry” and provides the dietary supplement, food, beverage, nutraceutical and cosmetic industries with the analytical tools, products, and services to meet the regulatory, quality, efficacy and safety standards for their products.

Forward-Looking Statements
Any statements that are not historical facts contained in this release are forward-looking statements. Actual results may differ materially from those projected or implied in any forward-looking statements. Such statements involve risks and uncertainties, including but not limited to those relating to product and customer demand, market acceptance of our products, the effect of economic conditions both nationally and internationally, ability to protect our intellectual property rights, impact of any litigation or infringement actions brought against us, competition from other providers and products, risks in product development, our ability to raise capital to fund continuing operations, the ability to complete transactions, and other factors discussed from time to time in the Company’s Securities and Exchange Commission filings. The Company undertakes no obligation to update or revise any forward-looking statement for events or circumstances after the date on which such statement is made except as required by law.

ChromaDex Corporation
10005 Muirlands Blvd, Suite G
Irvine, CA 92618
Phone 949-419-0288
Fax 949-419-0294
Email info@chromadex.com
www.chromadex.com

Investor Inquiries:                                        Media Inquiries:
Parag Dave                                                    Megan Lavine
Porter Novelli Life Sciences                           Porter Novelli Life Sciences
212-601-8186                                                619-849-5388
pdave@pnlifesciences.com                           mlavine@pnlifesciences.com

 

 

Order Center Coming Soon
Events
Request Information
Customer Service
Bioluminex
Investor Relations
Site Map About ChromaDex Products Services International Literature News Careers
If you have any questions, you may contact us at: PH: 949-419-0288 Fx: 949-419-0294 Email: sales@chromadex.com
® Unless otherwise noted, all text and images are protected by copyright © 1999-2007 ChromaDex, Inc., Site Terms of Use
<<privacy>>  <<terms and conditions>>  <<Contact Us>> <<Tell A Colleague>>