XELR8 secures $0.5 million in private placement -

Pharmaceutical Business Review

XELR8 Holdings, a provider of functional foods, beverages and nutritional supplements has raised $0.5 million in gross proceeds through a private placement sale of common stock and warrants.

XELR8 will issue 500,000 unregistered common shares at $1 per share and 300,000 new warrants exercisable at $1.50 per share. In addition, as part of the new funding, the warrant terms of the company's May 2007 raise have been modified such that the strike price on certain previously issued warrants has been reduced and certain callable warrant terms have been modified.

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