Advanced Cell Technology, Inc. (OTCQB: ACTC) a leader in the field of regenerative medicine, recently announced that it has reached a settlement agreement with CAMOFI and CAMZHN Master LDC resolving a lawsuit filed against ACT in the Supreme Court of New York relating to the conversion price of certain notes and the exercise price of certain warrants.
Under the terms of the settlement, ACT will pay $12.5 million to the investors, plus legal expenses, comprised of $2 million in cash, $4.5 million in restricted common stock and $6 million through the issuance of an 8% amortizing redeemable convertible debenture that matures June, 2015. Advanced Cell Technology, Inc. is a biotechnology company focused on developing and commercializing human embryonic and adult stem cell technology in the emerging field of regenerative medicine.
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USA Graphite, Inc. (OTCQB: USGT) announced that it has signed a letter of intent to acquire the Ruby Mountains Graphite Property. The Ruby Mountains Graphite Property has been identified by the Company as a high priority area for flake graphite. The claim block covers a large graphitic marble unit with flake graphite visible at surface. The financial terms of the transaction consist of approximately $3,200,000 in cash and stock and a $500,000 work program commitment. USA Graphite Inc. is a publicly traded US exploration company, focused on the acquisition, exploration and development of world class graphite properties in North America.
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