AXM Pharma Completes $3.125 Million Financing

AXM Pharma, announced that it completed a $3.125 million financing in the form of a 9 percent convertible note, with detachable warrants, which, if exercised, would result in approximately an additional $15.12 million to AXM Pharma. Funding is expected to occur over the next several business days. "We are pleased to complete this round of financing and the two new distribution agreements recently announced. With the current financing in place and potential for another $15.12 million in funding from this round, we can continue fulfilling our fast-growing purchase orders that have come in since our factory opened on March 1. We look forward to our best year on record in 2005," stated Douglas MacLellan, vice chairman of AXM Pharma.

Investor Communications Company (http://www.iccinfo.com/AXIM_Pages/AXIM_News/AXJ_NR_041905-2.html)