Oncologix Tech, Inc. (OTCPK:OCLG) acquired Angels of Mercy, Inc. from Clifford Haw and Jennifer Hebert for $0.65 million on August 1, 2013. The consideration includes $0.1 million in cash and $0.55 million in secured promissory note. Oncologix Tech also agreed to provide Clifford Haw and Jennifer Hebert 1 million warrants to purchase the common stock of the Oncologix Tech, Inc. at an exercise price of $0.015 per share. These warrants are exercisable for a term of 4 from the date of this agreement and have a cashless exercise feature. In connection with the acquisition, Oncologix Tech entered into a $0.1 million promissory note with a non-affiliated accredited Investor on July 26, 2013. Angels of Mercy generated revenue of $2.9 million. Under the terms of the Agreement, Vickie G. Hart was appointed President and Michael A. Kramarz was appointed Chief Financial Officer of Angels of Mercy. There were no changes to the officers or Directors of Oncologix Tech. Roy W. Erwin will assume the responsibilities of Oncologix Tech as Chairman of the Board and Chief Executive Officer. Michael A. Kramarz will remain as Oncologix Tech's Chief Financial Officer. The transaction is subject to completion of due diligence review by July 26, 2013, commencement of all necessary licensing approvals by the state or local authorities, review of the Angels of Mercy internal GAAP financial statements for the year ended December 31, 2010, December 31, 2011 and at December 31, 2012.

Oncologix Tech, Inc. (OTCPK:OCLG) completed the acquisition of Angels of Mercy, Inc. from Clifford Haw and Jennifer Hebert on August 1, 2013.