Life Settlement Securitization
BioMag Obtains Initial Financing From International Investment Capital Corporation
ORANGEVALE, Calif.–(BUSINESS WIRE)–July 11, 2006–BioMag Corporation (OTC:BMGC), announced today that it has completed a Private Placement in the amount of $350,000 with International Investment Capital Corporation.
International Investment Capital Corporation (”IICC”) is a privately owned company that was established in 2002 to facilitate securitizations of senior life settlement contracts. IICC has completed an initial round of financing in the amount of $350,000 at a $1.00 per share. Clayton M. Hardman, president and CEO of Biomag Corp. holds a 90% ownership position in IICC.
About BioMag Corporation
BioMag Corporation, through its wholly owned subsidiary, Biospectrum Technologies, Inc., a company that has designed and patented revolutionary diagnostic equipment and immunoassays, will identify market inadequacies and fill those needs with new technologies and highly specific and sensitive assays that are qualitative, (yes/no) and quantitative (viral load/degree of infection), easily performed and cost effective.
For more information please visit: www.biomagcorp.com
