The investors also received warrants to purchase 4,836,462 million additional shares of common stock at a price of $2.53 per share exercisable for five (5) years. T.R. Winston & Company acted as placement agent for the securities sold in this transaction.

The proceeds of the financing are expected to be used by the company for general corporate purposes and to accelerate its research and development of human embryonic stem cell technology and stem cell therapies with particular emphasis on retinal, dermal and hemangioblast cell lines, including the production of cells under GMP for potential use in future clinical trials.

This press release does not constitute an offer to sell or the solicitation of an offer to buy any security and this notice is as a matter of record only. The securities sold in this private placement have not been registered under the Securities Act of 1933, as amended, or applicable state securities laws and may not be offered or sold in the United States in the absence of an effective registration statement or exemption from registration requirements.

Source Advanced Cell Technology, Inc.