IZOZF - Izotropic Cancels Options and Updates Amount of Broker Warrant Issued
(TheNewswire)
VANCOUVER, BC - TheNewswire - December 1, 2020 - IzotropicCorporation (" Izotropic " orthe " Company ") (CSE: IZO ) (CNSX:IZO.CN) U.S. (OTC: IZOZF )(FSE: 1R3 ) announces that it has cancelled 600,000 options previouslyissued to consultants.
Th Company also announces that further to its NewsRelease of October 30, 2020, whereby it announced the closing of asecond and final tranche of its non-brokered private placement (the"Offering") of 2,866,334 units (each, a "Unit") ata price of $0.55 per Unit for gross proceeds of $1,576,483.70, itwishes to disclose the updated amount of broker warrants paid inconnection with the Offering to 193,995 Broker Warrants.
ON BEHALF OF THE BOARD
Robert Thast
Chief Executive Officer
Investor Relations, Dan Sammartino:1-778-962-0234
Email: info@izocorp.com
About Izotropic Corp.
Izotropic Corporation and its wholly owned U.S.operating subsidiary, Izotropic Imaging Corp. have been established tocommercialize the next generation of breast imaging technology forearly diagnosis of breast cancer. The Izotropic Breast CT ImagingSystem produces high resolution breast images in 3D. A single 10second breast CT scan acquires approximately 500 images, withoutpainful breast compression, providing radiologists with fully 3Dviewing of the scanned breast. Mammography scanning requirescompression of the breast between 2 imaging plates, resulting in 2Dimages.
The Company has the exclusive worldwide license fromthe University of California, Davis to commercialize the technologydeveloped by principal founder and Company director Dr. John M. Booneand researchers at UC Davis. The license includes all intellectualproperty, trade secrets, patents and patent-pending applications thatare the foundation of the Company's breast CT imaging platform.
Approximately $20 million in research funding and over15 years of research and development have been invested in developingthis groundbreaking breast CT imaging technology. Research includes acurrent, ongoing $2.9M U.S. clinical trial at UC Davis Medical Center.
The Company founders believe that this technology willbe a disruptive entry to the market, overcoming many of the challengesfaced by existing breast imaging modalities.
Forward Looking Statements
This document may contain forward-looking statementsthat are based on the Company's expectations, estimates andprojections regarding its business and the economic environment inwhich it operates. These statements are not guarantees of futureperformance and involve risks and uncertainties that are difficult tocontrol or predict. Therefore, actual outcomes and results may differmaterially from those expressed in these forward-looking statementsand readers should not place undue reliance on such statements.Statements speak only as of the date on which they are made and theCompany undertakes no obligation to update them publicly to reflectnew information or the occurrence of future events or circumstances,unless otherwise required to do so by law.
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