ChromaDex Completes $4.67 Million Capital Raise in Private Placement Transaction

IRVINE, Calif.—ChromaDex Corporation (OTCBB:CDXC) , a developer of phytochemical and botanical reference standards, has completed its last round of sales under a private placement it conducted with its wholly owned subsidiary ChromaDex, Inc., including the sale of a unit of one share of common stock and a warrant to purchase one half the shares of common stock purchased for a price of $1.36 per unit. The private placement, which was authorized for up to $6 million and has been on-going since March, yielded gross proceeds of approximately $4.67 million. Net proceeds after expenses are expected to be approximately $4.2 million. New Castle Financial Services acted as placement agent for the private placement.

Frank Jaksch, co-founder and CEO of ChromaDex, commented, "Subsequent to our recent emergence as a publicly-traded company through completion of a reverse merger, today we are pleased to announce the closing of this private placement to provide ChromaDex with additional working capital to support our business expansion plans. We are pleased with the amount raised and confident this financing will help position ChromaDex to support the next phase of growth in our quest to become the premier provider of phytochemical and botanical reference standards to the functional food, cosmetic, dietary supplement, pharmaceutical / life sciences and other industries."

ChromaDex expects to use the net proceeds to fund organic expansion as well as for general corporate purposes and working capital.