Zero Gravity Solutions, Inc. Closes Final Tranche of its Equity Private Placement, Raising a Total of $6.25 Million
BOCA RATON, Fla.— (May 24, 2016),– Zero Gravity Solutions, Inc.'s ("ZGSI" or the "Company") (Pink Sheets: ZGSI), an agricultural biotechnology public company commercializing its technology derived from and designed for Space with significant applications for agriculture on Earth, announced that it has closed the final tranche of its previously announced offering of the Company's Units in an exempt private placement transaction ("Private Placement"). Each Unit in the Private Placement consisted of one share of common stock and a warrant to purchase one share of common stock. The Company received gross proceeds of $6,260,000 million pursuant to the Private Placement.
Livingston Securities, LLC acted as the placement agent for the Private Placement. The proceeds from this Private Placement will provide the capital to deploy the infrastructure necessary to support the rollout of the Company's first commercial product, BAM-FX, in agricultural markets.
"The capital raise has allowed the Company to expand its field staff, including certified crop advisors, agronomists and qualified sales and marketing personnel to accelerate sales and customer support as we rollout BAM-FX to both domestic and international agricultural markets. We have also enhanced our production facility capabilities to service the growing needs of our now expanding customer base," stated Glenn Stinebaugh, ZGSI's President and Chief Executive Officer.
For more details on the Private Placement, please refer to the Company's recent US Securities and Exchange Commission filing.
The Units, common stock and warrants, and any other securities offered in the Private Placement or any other securities to be offered in any proposed future private placement (collectively, the "Securities") have not been registered under the U.S. Securities Act of 1933, as amended (the "Securities Act"), or the securities laws of any other jurisdiction. Because the Securities are not registered, the Securities may not be offered or sold in the United States absent registration or an exemption from registration. This press release is being issued pursuant to and in accordance with Rule 135c under the Securities Act and shall not constitute an offer to sell, or the solicitation of an offer to buy, any securities, nor shall there be any sales of the securities mentioned in this press release in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state.
Zero Gravity Solutions, Inc. Issued Patent for its Commercial Product for Agriculture, BAM-FX™, by the United States Patent and Trademark Office
BOCA RATON, Fla.— (February 24, 2016),– Zero Gravity Solutions, Inc.'s (ZGSI or the Company) (Pink Sheets: ZGSI), an agricultural biotechnology public company commercializing its technology derived from and designed for Space with significant applications on Earth, has previously announced the notification of approval for BAM-FX by the United States Patent and Trademark Office (USPTO). The Company today was issued U.S. Patent No. 9,266,785 for BAM-FX.
BAM-FX is the first formulation of a family of BAM (Bio Available Minerals) products designed to increase crop yields and quality while also addressing crop plant mineral deficiencies and the stress related challenges facing agriculture worldwide. Major problems facing agriculture include population growth and the hidden hunger of humans on our planet known globally as crop mineral deficiencies in (zinc, selenium, iron and iodine), and coping with the now common weather events resulting in excessive heat and drought, frost and wind damage. Furthermore, soil degradation caused by excessive use of chemicals/fertilizers and subsequent damage to aquifers and water bodies caused by run-off can all be potentially mitigated by adopting the use of Precision Agricultural micronutrient products such as BAM-FX that help increase the efficiencies of fertilizer use.
“These agricultural problems can be addressed through precision farming techniques along with the use of new technology innovations, such as BAM-FX. BAM-FX provides the means to deliver bioavailable forms of micronutrients, such as copper and zinc in precise ratios through our technology, which allows these micronutrients to actually enter into the plants cells. This results in visibly better growth, enhanced yields with better food quality and other crop benefits including observed plant stress tolerance,” stated Glenn Stinebaugh, ZGSI’s President and Chief Executive Officer.