IZOZF - IZOTROPIC CORPORATION Announces Closing of Non-Brokered Private Placement
(TheNewswire)
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VANCOUVER, BC – TheNewswire - November 10, 2022 – Izotropic Corporation (“ Izotropic ” or the “ Company ”)(CSE: IZO ) (OTC: IZOZF )(FSE: 1R3 ), a medical device company commercializing IzoView, adedicated breast CT (computed tomography) imaging platform, for themore accurate detection and diagnosis of breast cancers, announcesthat it has completed a non-brokered privateplacement financing (the “ Offering ”) of 2,500,000 units of the Company (each, a“ Unit ”) at a price of $0.40 per Unit for gross proceeds of$1,000,000. Each Unit consists of one common share (each, a“ Share ”) and one-half of one transferable common share purchase“A” warrant (each whole “A” warrant, an “ A Warrant ”) andone-half of one transferable common share purchase “B” warrant(each whole “B” warrant, a “ B Warrant ” , and together with the A Warrants,the “ Warrants ”) . Each A Warrant will entitle theholder thereof to acquire one Share (each, an “ A Warrant Share ”)at a price of $0.70 per A Warrant Share for a period of two yearsfollowing the closing of the Offering and each B Warrant will entitlethe holder thereof to acquire one Share (each, a “ B Warrant Share ”, and together with the A WarrantShares, the “ WarrantShares ” ) at a price of$0.80 per B Warrant Share for a period of two years following theclosing of the Offering, subject to the terms and conditions containedin the applicable warrant certificate.
The use of proceeds from the Offering will be used forfinal product developments, capital components, product testing andgeneral working capital.
The Company paid an aggregate of $25,942 and issued andaggregate of 64,855 broker warrants in connection with the closing ofthe Offering. Each broker warrant will entitle the holder topurchase one additional share at a price of $0.40 per share for aperiod of two years from closing of the Offering.
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 UnitedStates Securities Act of 1933 , as amended (the“ 1933 Act ”), and none of them may be offered or sold in the UnitedStates 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
Dr. John McGraw
Investor Relations Contact:
James Berard
Email: info@izocorp.com
Toll Free: 1-833-IZOCORP ext.1
Media Inquiries Contact:
Jaclyn Thast
Email: jaclyn@izocorp.com
Toll Free: 1-833-IZOCORP ext.3
About Izotropic Corporation
Izotropic Corporation is the only publicly tradedcompany commercializing a dedicated breast CT imaging platform,IzoView, for the more accurate detection and diagnosis of breastcancers. To expedite patient and provider access to IzoView,Izotropic's initial clinical study intends to demonstrate superiorperformance of diagnostic breast CT imaging over diagnosticmammography procedures. In follow-on clinical studies, Izotropic intends to validate platform applications,including breast screening in radiology, treatment planning andmonitoring in surgical oncology, and breast reconstruction and implantmonitoring in plastic and reconstructive surgery.
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.
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