Curaegis Technologies Inc


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Latest Developments

Torvec Inc announces private placement offering of up to $2,500,000 in voting convertible preferred stock

Torvec Inc:Announces private placement offering of up to $2,500,000 Series C-3 Voting Convertible Preferred Stock, par value $0.01 per share, at the price of $0.25 per share in a private placement.

Torvec Inc announces name change

Torvec Inc:Says split company into two divisions.Says CURA Division will oversee our Fatigue Management Consulting business, and the Aegis Division will oversee our Power and Hydraulic business.Says new name of company will be CurAegis Technologies Inc.

Torvec Inc announces resignation of Chief Financial Officer - Form 8-K

Torvec Inc:Says on Jan. 26, Robert W. Fishback, Chief Financial Officer and Corporate Secretary of Torvec, Inc., notified the Company that he will be resigning from his positions, effective as of Feb. 13.

Torvec completes $5.0 mln private placement

Torvec Inc:Raises $5.0 million in a private placement transaction involving a new series of preferred stock.Plans to use the proceeds raised to continue the development and marketing of its technology for commercialization, including the IsoTorque differential and the Torvec hydraulic pump.

Torvec Inc Signs Development Agreement with Chinese Automaker

Torvec Inc announced that it has entered into an agreement with Chinese automotive manufacturer, BAIC Motor Co Ltd. Under the agreement, BAIC Motor Co., Ltd. will pay Torvec to manufacture a number of prototypes of its IsoTorque differential for one of BAIC's anticipated future car models. Torvec will supply BAIC with these prototypes for its evaluation and testing. Under the agreement, BAIC will furnish Torvec with specifications, drawings, differential housings and will pay Torvec to manufacture prototype IsoTorques for a specific vehicle application.

Torvec, Inc. Raises $6.5 Million

Torvec, Inc. announced that the Company has raised $6.5 million in a private placement of a new series of preferred stock. The Company has issued a total of 16,250,000 shares of Series C Preferred Stock at a price of $0.40 per share. As the result of the private placement, a group led by B. Thomas Golisano, founder and Chairman of Paychex, has taken a major position in Torvec with its investment of $6.225 million, while Company Directors and Executive Officers have increased their ownership through their $275,000 investment. As part of the same private placement, the investors received common stock purchase warrants entitling them to purchase up to an aggregate total of 1,625,000 common shares at 80% of the volume weighted average price of the Company's common stock based on the 10 trading days immediately preceding the date of exercise. The warrants are immediately exercisable and have a 10 year term. The Company intends to use the $6.5 million raised to continue developing and intensify the marketing of its IsoTorque and Rota-Torque technologies for the automotive and commercial pump industries, including the Company's anticipated entry into the automotive aftermarket with its patented differential.

Torvec, Inc. Secures Contract With Mining Equipment Component Supplier

Torvec, Inc. announced that it has entered into a contract with Eastern Mining & Industrial Supply, Inc., a West Virginia remanufacturer of components for the mining and associated industrial equipment industry to develop, evaluate, manufacture and sell Torvec's IsoTorque differential technology in mining shuttle cars.

Torvec, Inc. Appoints Chief Financial Officer

Torvec, Inc. announced that Robert W. Fishback has been appointed the Company's Chief Financial Officer, effective immediately. Mr. Fishback served as a financial consultant to Torvec from July 2010.

Torvec, Inc. Raises $1,500,000 In Private Placement

Torvec, Inc. announced that Torvec has raised approximately $1,500,000 of gross proceeds in a non brokered private placement of its common stock at $.30 per common share. The offering commenced on October 4, 2010 and was completed on October 14, 2010. The offering price was based upon the average trading price for the Company's common stock during the thirty trading days immediately preceding the commencement of the private placement. The Company expects to use the offering proceeds over the next twelve months to fund its operations, including programs designed to commercialize the Company's technologies.

Torvec, Inc. Appoints Richard A. Kaplan Chief Executive Officer

Torvec, Inc. announced that Richard A. Kaplan has been appointed the Company's Chief Executive Officer, effective immediately.

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