Exhibit 99.1
January 25, 2012
Oragenics Announces Fifth Amendment to Unsecured Revolving Line of Credit to Provide
$750,000 of Additional Funding
For Immediate Release:
TAMPA, Fla.January 25, 2012Oragenics, Inc. (OTCBB:ORNI) (the Company), announced on January 23, 2012, that the Company has entered into a Fifth Amendment (the Fifth Amendment) to its Unsecured Revolving Line of Credit (the Credit Facility) with the Koski Family Limited Partnership (KFLP), the Companys largest shareholder. The Fifth Amendment increased the available borrowing under the Credit Facility by $750,000, from $7,500,000 to $8,250,000. All other terms of the Credit Facility remained the same as in the previous amendments. Oragenics has since drawn down on the additional availability provided by the Fifth Amendment.
We appreciate the KFLPs additional financial support through the recent amendment to the Credit Facility. This funding will enable us to continue to focus on our operational and strategic priorities, including the marketing of our oral care probiotics for humans and companion pets, stated John N. Bonfiglio, Ph.D., Chief Executive Officer and President of Oragenics.
Oragenics Audit Committee and Board of Directors approved entering into of the Fifth Amendment. Funds provided under the Fifth Amendment to the Credit Facility are able to be drawn immediately.
About Oragenics, Inc.
Oragenics is a leading nutraceutical company focused on oral care probiotics for humans and companion pets. The Companys proprietary products Evora and ProBiora3® are currently sold in over 20 countries. In addition, Oragenics has an exciting pipeline of therapeutic products targeting infectious disease.
Safe Harbor Statement: Under the Private Securities Litigation Reform Act of 1995: This release includes forward-looking statements that reflect the Companys current views with respect to future events and financial performance. These forward-looking statements are based on managements beliefs and assumptions and information currently available. The words believe, expect, anticipate, intend, estimate, project and similar expressions that do not relate solely to historical matters identify forward-looking statements. Investors should be cautious in relying on forward-looking statements because they are subject to a variety of risks, uncertainties, and other factors that could cause actual results to differ materially from those expressed in any such forward-looking statements. These factors include, but are not limited to our ability to raise additional capital to sustain our operations beyond March 31, 2012 and those set forth in our most recently filed annual report on Form 10-K and quarterly report on Form 10-Q, and other factors detailed from time to time in filings with the U.S. Securities and Exchange Commission. We expressly disclaim any responsibility to update forward-looking statements.
Corporate Contact: |
Investor Contact: | |
Linda Loren |
Jennifer K. Zimmons, Ph.D. | |
Marketing Director |
Managing Director | |
Oragenics, Inc. |
Cooper Global Communications, LLC | |
3000 Bayport Drive, Suite 685 |
245 Park Ave., 39th Fl. | |
Tampa, Fl. 33607 |
New York, NY 10167 | |
Tel: 813-527-1020 |
Tel: 212-209-7360 | |
lloren@oragenics.com |
jzimmons@cgc-us.com |