Correcting and replacing press release issued May 2, 2006
Bio-Solutions Manufacturing, Inc. (OTCBB: BSLM) (Frankfurt: B2T.F) announced today that it has completed the initial closing of $1,000,000 of a $2,250,000 private placement with European institutional investors. In the placement, Bio-Solutions issued 2,500,000 units, each unit consisting of one share of common stock and a warrant to purchase one share of common stock at $0.80 per share, at a purchase price of $0.40 per unit. The company intends to keep the placement open for a reasonable period of time to accept additional subscriptions for the remaining $1,250,000 worth of units being offered. Bio Solutions retained T&T Vermogensverwaltungs AG of Switzerland as its investment banker for the transaction.
"T & T has financed many companies in the US and Europe and is looking forward to working with Bio-Solutions Manufacturing, a revolutionary bioremediation and bio-diesel company," says Mr. Ivano Anglestri, T & T's President.
"We are very pleased to have T & T as a business partner and we are looking forward to the opportunities this venture will bring," says Mr. David Bennett, President and CEO of Bio-Solutions Manufacturing. "This funding gives us the ability to develop and market our biodiesel and environmental products."
The securities offered by Bio Solutions were offered and sold pursuant to Regulation S of the Securities Act of 1933, as amended. Further details regarding the terms of the financing can be found on the company' s quarterly report on Form 10-QSB filed with the Securities & Exchange Commission.
About Bio-Solutions Manufacturing, Inc.:
Bio-Solutions Manufacturing has developed microbiological products for waste bioremediation. The company currently services many municipal collection systems and a growing number of food service facilities in the United States. The company's products have been approved by an ever-growing number of municipalities for use in food service facilities that produce waste products introduced into the municipal collection systems. Bio-Solutions' products treat waste in an environmentally friendly and safe manner in compliance with Federal and State government standards.
Bio-Solutions has developed a line of environmentally friendly cleaning products that include all purpose cleaner, carpet cleaner, concrete and asphalt cleaner, and floor soap. With this line of products, it is enabling Bio-Solutions to broaden its customer base to the residential areas as well as the businesses and municipalities.
Safe Harbor for Forward-Looking Statements:
Except for historical information contained herein, the statements in this news release are forward-looking statements that involve risks and uncertainties and are made pursuant to the safe harbor provisions of the Private Securities Reform Act of 1995. Forward-looking statements involve known and unknown risks and uncertainties, which may cause the Company's actual results in the future periods to differ materially from forecasted results.
