Inergetics, Inc. Executes Engagement Agreement With Wall Street Firm Murphy & Durieu for Private Placement
PARAMUS, N.J., Nov. 30, 2011 /PRNewswire/ -- Inergetics, Inc. (OTCBB: NRTI), a leader in targeted product development for the Clinical Nutrition and Sports Supplement Markets, today announced that it engaged Murphy & Durieu to act as placement agent for a proposed private placement of up to $5,000,000 in equity.
Murphy & Durieu is one of Wall Street's oldest financial service and inter-dealer brokerage firms. The firm, founded in 1929, began as a fixed income trading house and became a member of The New York Stock Exchange in 1974. Murphy & Durieu is a full service investment and inter-dealer broker, active in the global fixed income, derivative and equity markets. Murphy & Durieu's investment banking division offers unique corporate finance solutions in equity and debt, mergers and acquisitions and structured finance.
Mark Mirken, CEO and Chairman of Inergetics stated, "We have improved our balance sheet as the product of the recently completed debt-to-equity conversion and 1 for 80 reverse stock split. Our intent is to now raise the capital necessary to support the retail expansion of our product lines in various channels and institutions. With a complete product line and a bankable entity, we expect that the capital raised in the private placement will be directed to promote, market, advertise and sell the Surgex® line of products."
Murphy & Durieu will act as placement agent in the private placement. Sales efforts will be led by Brad Feinstein of Murphy & Durieu's Entertainment, Sports and Media Group.
The securities offered in the private placement have not been and will not be registered under the Securities Act of 1933 and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements.
About Inergetics, Inc.
Inergetics, Inc. is a leading developer of nutritional supplements for the Clinical Health and Sports Supplement markets. Inergetics has established a line of Resurgex products consisting of proprietary nutritional formulas that are used by a wide range of clinical patients and consumers. Resurgex™ products provide comprehensive nutritional support for actively treated cancer patients as well as those in post-treatment care and elderly members of the assisted living community. Inergetics has also developed Surgex® sports nutrition formula to meet the nutritional needs of professional, Olympic and amateur elite athletes that experience post-workout symptoms such as fatigue, loss of lean muscle, oxidative stress, and reduced immune function. Resurgex Essential™ and Resurgex Essential Plus™ are comprehensive, calorically-dense formulas that meet and exceed the nutritional requirements of the assisted living community. To learn more about Inergetics, visit www.inergetics.com, the Resurgex product website and online store, and www.resurgex.com, and the Surgex® product website and online store at www.surgexsports.com.
Safe Harbor Statement
This press release contains "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. All statements, other than statements of historical fact, including, without limitation, those with respect to the objectives, plans and strategies of Inergetics set forth herein and those preceded by or that include the words "believes,'' "expects,'' "given," "targets," "intends," "anticipates," "plans," "projects," "forecasts," or similar expressions, are "forward-looking statements." Although Inergetics' management believes that such forward-looking statements are reasonable, it cannot guarantee that such expectations are, or will be, correct. These forward-looking statements involve a number of risks and uncertainties, which could cause Inergetics' future results to differ materially from those anticipated. Inergetics assumes no obligation to update any of the information contained or referenced in this press release.
Mark C. Mirken, CEO
SOURCE Inergetics, Inc.