IZO:CC - Izotropic Closes Non-Brokered Private Placement
(TheNewswire)
Vancouver, BC - TheNewswire - September 20, 2023 - Izotropic Corporation (“ Izotropic ” or the “ Company ”) (CSE: IZO ) (OTCQ: IZOZF ) (FSE: 1R3 ), a medicaldevice company commercializing IzoView, a CT (computed tomography)imaging system, that produces images of anatomy for non-invasivetissue characterization with the first application in breast imaging,announced today that, further to its newsrelease on September 13, 2023, thatit has completed a non-brokered private placement financing (the“ Offering ”) of 2,841,325 units of the Company (each, a“ Unit ”) at a price of $0.25 per Unit for gross proceeds of$710,331.25. Each Unit consists of one common share and onetransferable warrant (each, a “ Warrant ”), and each Warrant entitles theholder to purchase one additional share at a price of $0.50 per sharefor a period of two years from closing of the Offering.
The use of proceeds from the Offering will be used forgeneral working capital, including paying interest and eliminating$50,000 in debt from promissorynotes , and payments for theCompany’s annual year-end audit and accounting and compliancerelated items.
No fees or commissions were paid in connection with theprivate placement. Costs associated with managing the financing andits closing were mitigated by completing this work in house.
All securities issued in connection with the Offeringwill be subject to a statutory hold period of four months and one dayfrom the date of issuance in accordance with applicable securitieslegislation.
None of the securities issued in the Offering will beregistered under the United States Securities Act of 1933, as amended(the “1933 Act”), and none of them may be offered or sold in theUnited States absent registration or an applicable exemption from theregistration requirements of the 1933 Act. This news release shall notconstitute an offer to sell or a solicitation of an offer to buy norshall there be any sale of the securities in any state where suchoffer, solicitation, or sale would be unlawful.
ON BEHALF OF THE BOARD
Mr. Robert Thast, CEO
Cell: 604-220-5031
Contact:
Email: info@izocorp.com
Toll Free: 1-833-IZOCORP ext.1
About Izotropic
More information about Izotropic Corporation can befound on its website at izocorp.com and by reviewing its profile on SEDAR at sedar.com.
Forward-Looking Statements
This document may contain statements that are"Forward-Looking Statements," which are based upon thecurrent estimates, assumptions, projections, and expectations of theCompany's management, business, and its knowledge of the relevantmarket and economic environment in which it operates. The Company hastried, where possible, to identify suchinformation and statements by using words such as"anticipate," "believe," "envision,""estimate," "expect," "intend,""may," "plan," "predict,""project," "target," "potential,""will," "would," "could,""should," "continue," "contemplate" andother similar expressions and derivations thereof in connection withany discussion of future events, trends or prospects or futureoperating or financial performance, although not all forward-lookingstatements contain these identifying words.
These statements are not guarantees of performance andinvolve risks, including those related to capital requirements anduncertainties that are difficult to control or predict, and as such,they may cause future results of the Company's activity to differsignificantly from the content and implications of such statements.Forward-Looking Statements are pertinent only as of the date on whichthey are made, and the Company undertakes no obligation to update orrevise any Forward-Looking Statements to reflect new information orthe occurrence of future events or circumstances unless otherwiserequired to do so by law. Neither the Company nor its shareholders,officers, and consultants shall be liable for any action and theresults of any action taken by any person based on the informationcontained herein, including, without limitation, the purchase or saleof Company securities. Nothing in this document should be deemed to bemedical or other advice of any kind. All images are for illustrativepurposes only. IzoView is not yet approved for sale.
THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO U.S.NEWSWIRE SERVICES FOR DISSEMINATION IN THE UNITED STATES
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