July 1, 2009 –

Rockville's Neuralstem, Inc., a biotherapeutics and stem cell research company, has sold 800,000 shares of Neuralstem common stock at $1.25 per share to Vicis Capital Master Fund, reflecting an approximate 20% premium to the closing price of the stock on Monday, June 29. The Company also issued to Vicis warrants to purchase 2.4 million shares of Neuralstem common stock at $1.25 a share, a third of which must be exercised within a year from the date of issuance, a third within three years and the final third within five years from the date of issuance. Neuralstem plans to use these proceeds for working capital.

Vicis Capital Managing Director Chris Phillips stated, "We are very excited to complete this transaction as we believe this is a strong investment for our portfolio. We are confident in the company's leadership position to treat neurodegenerative conditions and injury with its cells."

– Corridor staff