ZIVO Bioscience Increases Credit Line To $17.5 Million, Finds Early Success In $5 Million Capital Funding Initiative
KEEGO HARBOR, MI -- (Marketwired) -- 11/02/16 -- ZIVO Bioscience, Inc. (OTCQB: ZIVO) announces today that from July 1, 2016 to date, the Company has received $2 million in new capital funding as part of its Q3/Q4 capital funding initiative. This brings the total of new funding to $3.25 million year to date. In related news, the ZIVO Board of Directors recently approved an increase in the available credit line from HEP Investments, LLC to $17.5 million. To accommodate this enhanced level of funding, a proxy measure has been placed before the shareholders to increase the authorized share base by 150 million shares to 450 million authorized shares. Results are expected to be announced at the annual shareholder meeting on November 9 in Detroit, Michigan.
The new funding will accelerate the research and compliance work now underway. The Company will continue its successful bovine mastitis research, human safety studies and expanded analytics work as it continues to accept capital funding from various sources through the end of 2016. ZIVO management expresses optimism at the prospect of additional funding to help propel the Company toward licensing agreements in the near term.
About ZIVO Bioscience, Inc.
ZIVO Bioscience, Inc. (OTCQB: ZIVO) is a Michigan-based biotech company engaged in the investigation of the health benefits of bioactive compounds derived from its proprietary algal cultures, and the development of natural bioactive compounds for use as dietary supplements and food ingredients, as well as biologically derived and synthetic candidates for medicinal and pharmaceutical applications in humans and animals, specifically focused on autoimmune and inflammatory response modulation.
Safe Harbor Statement
Except for any historical information, the matters discussed in this press release contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These forward-looking statements involve risks and uncertainties. A number of factors could cause actual results to differ from those indicated in the forward-looking statements, including the timing of completion of a trial, actual future clinical trial results being different than the results the company has obtained to date, and the company's ability to secure funding. Such statements are subject to a number of assumptions, risks and uncertainties. Readers are cautioned that such statements are not guarantees of future performance and those actual results or developments may differ materially from those set forth in the forward-looking statements. The company undertakes no obligation to publicly update or revise forward-looking statements, whether as a result of new information or otherwise.
Source: ZIVO Bioscience, Inc.
Released November 2, 2016