Avitar Announces $10 Million Financing Commitment

Avitar has entered into a Standby Equity Distribution Agreement with Cornell Capital Partners, LP. Under the deal, signed as of Feb. 1, 2005, Cornell Capital is committed to provide up to $10 million of equity financing which can be drawn by the company in $250,000 tranches at any time over a 24-month period, subject to certain conditions and obligations.
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