LAFAYETTE, LA, United States, via ETELIGIS INC., 12/30/2014 – – Oncologix Tech Inc. (OTC Pink: OCLG) (PINKSHEETS: OCLG), a fully reporting, diversified medical holding company with operating units in medical device, healthcare services, medical products and technologies, paid off another convertible note installment continuing its convertible debt reduction strategy in lieu of issuance of common stock shares.
Wayne Erwin, OCLG’s Chief Executive Officer, remarked, “We again continue to execute upon our strategic financial initiatives focused on increasing shareholder value by reducing convertible debt prior to its conversion. Our strategy will be to continue repaying upcoming convertible notes from our operating capital prior to their conversion into common stock. Since October 2014, we have repaid several convertible notes preventing the issuance of approximately 30,000,000 shares.”
Mr. Erwin further commented; “Our continued debt reduction strategy benefits the company in multiple ways including decreasing the continued downward pressure of our stock, reducing corporate debt, and improving our balance sheet and total net equity. This proactive activity combined with continued strategic acquisitions greatly increases our shareholders value.”
About Oncologix Tech
Oncologix is a diversified medical holding company that operates and manufactures Class II medical device products, delivers Personal Health Care Services, and the sales and distribution of Durable and Home Medical products. For its clients, Oncologix provides FDA approved medical devices, state licensed healthcare services, and medical products and technologies. For its shareholders, Oncologix operates profitable business divisions that build, maintain and nourish shareholder value. The Company’s corporate mission is to be the best small cap medical holding company in North America.
This press release may contain forward-looking statements, made in reliance upon Section 21D of the Exchange Act of 1934, which involve known and unknown risks, uncertainties or other factors that could cause actual results to differ materially from the results, performance, or expectations implied by these forward-looking statements. The Company’s expectations, among other things, are dependent upon economic conditions, continued demand for its products, the availability of raw materials, retention of its key management and operating personnel, its ability to operate its subsidiary companies effectively, need for and availability of more capital as well as other uncontrollable or unknown factors which are more fully disclosed in the Company’s filings with the Securities and Exchange Commission.
Wayne Erwin, Chairman and CEO
Oncologix Tech Inc.
Green Arrow Consulting LLC
SOURCE: Oncologix Tech Inc.