Global Med secures $8M commitment from Fusion Capital

The Denver Business Journal - October 13, 2004

Denver-based Global Med Technologies Inc. (OTC BB: GLOB) announced Wednesday that it has entered into a common stock purchase agreement worth $8 million with Chicago-based Fusion Capital Fund II LLC.

Fusion Capital has agreed to purchase the stock during a 32-month period.

Specifically, after the Securities and Exchange Commission has declared effective a registration statement, each month Global Med has the right to sell to Fusion Capital $250,000 of its common stock at a purchase price based upon the market price of Global Med's common stock on the date of each sale without any fixed discount to the market price.

At the company's sole option, Fusion Capital can be required to purchase lesser or greater amounts of common stock each month up to $8 million in the aggregate. Global Med also has the right to terminate the agreement at any time without any additional cost. In addition, the company has the right to control the timing and he amount of stock sold to Fusion Capital within set limits.

Global Med Technologies Inc. is an international e-Health, medical information technology company, providing information management software products and service to the healthcare industry.