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Sepragen Corporation Announces Expiration Of Its Class A and Class B Redeemable Warrants

HAYWARD, CA, March 27, 2000 - Sepragen Corporation (OTC BB: SPGNU, SPGNA, SPGNW) a technology developer of equipment and supplies for radial flow chromatography (RFC) applications, today announced that the Redeemable Class A and Class B Warrants, issued as part of the company’s Initial Public Offering (IPO) on March 23, 1995, expired as of Friday, March 24, 2000.

The affected warrants are:

  • 2,845,000 Redeemable Class A Warrants (symbol:SPGNW) consisting of 2,070,000 (IPO) Warrants and 775,000 bridge note holders
  • 2,070,000 Redeemable Class B (IPO) Warrants (symbol:SPGNZ)
Vinit Saxena, Sepragen’s Chairman and CEO stated, "The expiration of the Class A and B Warrants improves the capital structure and balance sheet of Sepragen and coincides with the commercialization of our RFC technology in the food and beverage industries and improving fundamentals in the biotech industry.

Sepragen Corporation develops and markets technology along with equipment and supplies for process chromatography applications. Sepragen has developed a number of patented applications that provide large market opportunities in the food and beverage industry, including debittering citrus juices, extracting isoflavone (plant estrogen) from soy, as well as extracting proteins from whey. The company holds over 14 issued patents relating to its core technology. As of December 31, 1999, Sepragen had 5,412,562 common shares issued.

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The statements in this release that relate to future events or performance, statements about growth, future regulatory clearances, levels of sales and market size and future manufacturing capacity and efficiencies are forward-looking statements that involve risks and uncertainties, including risks associated with uncertainties related to the development of markets for and commercial acceptance of the company's products and services, the availability of components, competitors' product introductions and other risks identified in the company's SEC filings. Actual results may differ from those described in these forward-looking statements. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof.


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