Dec. 28, 2015, 8:53 AM
- Thinly traded nano cap ULURU (OTCQB:ULUR) acquires certain territorial distribution agreements of Altrazeal Trading GmbH for up to $3.1M. The deal includes the issuance of 6,536,847 shares of stock at $0.38 per share and warrants to purchase 653,686 shares of common at $0.68. The stock sale will satisfy the net transfer fee of 2,273,771 euros that ULURU will pay to satisfy the amounts owed to it by Altrazeal. It also agreed to pay the distributor $88,834 for Altrazeal product inventory and $56,512 for expense reimbursement.
- Each of the local designated distributors in the territories (EU, Middle East, Australia, New Zealand, North Africa and the Balkan States) will now have a direct relationship with ULURU.
- Separately, the company finalized an exclusive agreement with Altrazeal AG for the marketing and distribution of Altrazeal in Latin America. It also inked an agreement covering Kenya, Tanzania, Ruanda and Uganda.
- Altrazeal is a proprietary powder wound dressing used to heal chronic wounds (e.g., venous ulcers, diabetic foot ulcers), infected wounds, burns, skin grafts and acute wounds (surgery, trauma).