StockGuru Breaking News:
OCLG Continues Debt Reduction Strategy; Strengthens Company’s Stock Position and Shareholder Value
Today’s Release:
Oncologix Tech Inc. (OTC Pink: OCLG) (PINKSHEETS: OCLG), a fully reporting, diversified medical holding company with operating units in medical device, healthcare services, medical products and technologies, announces the continuation of its convertible debt reduction strategy by repaying initial installment in lieu of issuance of common stock shares.
Wayne Erwin, OCLG’s Chief Executive Officer, remarked, “We continue to execute upon our strategic financial initiatives focused on increasing shareholder value by reducing convertible debt prior to its conversion. Our strategy is to continue repaying upcoming convertible notes from our operating capital prior to their conversion into common stock and this payment prevents the issuance of approximately 12,000,000 shares.”
Mr. Erwin further commented, “Our continued debt reduction strategy benefits the company in multiple ways including decreasing the continued downward pressure of our stock, reducing corporate debt, and improving our balance sheet and net equity. It is our belief that this action together with continued strategic acquisitions will greatly increase our shareholder value.”
About Oncologix Tech
Oncologix is a diversified medical holding company that operates and manufactures Class II medical device products, delivers Personal Health Care Services, and the sales and distribution of Durable and Home Medical products. For its clients, Oncologix provides FDA approved medical devices, state licensed healthcare services, and medical products and technologies. For its shareholders, Oncologix operates profitable business divisions that build, maintain and nourish shareholder value. The Company’s corporate mission is to be the best small cap medical holding company in North America.
Forward-Looking Statements
This press release may contain forward-looking statements, made in reliance upon Section 21D of the Exchange Act of 1934, which involve known and unknown risks, uncertainties or other factors that could cause actual results to differ materially from the results, performance, or expectations implied by these forward-looking statements. The Company’s expectations, among other things, are dependent upon economic conditions, continued demand for its products, the availability of raw materials, retention of its key management and operating personnel, its ability to operate its subsidiary companies effectively, need for and availability of more capital as well as other uncontrollable or unknown factors which are more fully disclosed in the Company’s filings with the Securities and Exchange Commission.