Stevenson, Wash., Jun. 9 - Total Nutraceutical Solutions, Inc., reported the receipt of approximately $509,500 in a private placement of units of restricted common stock.
The units were priced at $.50 per unit; Each unit is comprised of 2 Shares of Restricted Common Stock and One “A” Stock Purchase Warrant to Purchase One Additional Share of Common Stock at $.75 Per Share and One “B” Stock Purchase Warrant to Purchase One Additional Share of Common Stock at $1.00 Per Share For a Period of Three Years.
Proceeds from the funding will be used to research, formulate, and launch medicinal mushroom nutraceutical dietary supplements utilizing innovative technology controlled by Total Nutraceutical Solutions, Inc. (TNS).
“This raising of capital allows TNS to launch and market its new product line of specially formulated mushroom nutritional supplements,” said TNS CEO, Marvin S. Hausman, MD. Dr. Hausman further stated that “Funds will also be directed to the further development of a specialty mushroom containing high levels of Vitamin D2. The production of this potential super food is being developed in accordance with the TNS option to license agreement for “Rapid Generation of Vitamin D2 from Mushrooms and Fungi Using Pulsed UV-light.”