IZO:CC - Izotropic Corporation Announces Non-Brokered Private Placement
(TheNewswire)
VANCOUVER, BC – TheNewswire - March 30, 2022 – Izotropic Corporation (“ Izotropic ” or the “ Company ”) (CSE: IZO ) (OTC: IZOZF )(FSE: 1R3 ), a Company commercializing a dedicated breast CT (computed tomography)imaging platform, IzoView, for the more accurate detection anddiagnosis of breast cancers announces is pleased toannounce that it intends to complete anon-brokered private placement (the “ Offering ”) ofunsecured promissory notes (each, a “ Note ”) pursuant towhich the Company will issue: (i) Notes purchased for an aggregateprice of up to $2,050,000 with the option for the Company to acquirean additional $2,000,000 subject to terms that will be determined at alater date, and (ii) a number of detachable share purchase warrants(each, a “ Warrant ”) for every $1,000 of principal ofthe Notes, to be determined at a later date.
Each Warrant will be exercisable into one common sharein the capital of the Company (each, a “ Warrant Share ”) atan exercise price of $0.62 per Warrant Share for a period of two (2)years from the date of closing.
The Notes will mature on the date that is one year fromthe date of issuance (the “ Maturity Date ”). The Notes will either: (i)bear simple interest at 1% per month, from the date of issuance (the“ Closing ”), payable every three months; or (ii) be subject to anoriginal issuance discount in lieu of interest. The final terms of theNotes are to be determined, subject to the policies of the CanadianSecurities Exchange.
It is the intention of the Company that the proceedsfrom the Offering will be used for completing the initial IzoViewdevice build, engaging a clinical research organization to undertakethe clinical study for FDA market authorization, and workingcapital.
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. The Company does not intend to pay any finder’s fees inconnection with the Offering. The Company does not anticipate that anyinsiders of the Company will participate in the Offering.
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 COMPANY
Dr. John McGraw, CEO
For investor relations inquiries,contact:
James Berard
Email: jberard@izocorp.com
Cell: 778-228-2314
Toll Free: 1-833-IZOCORP ext.1
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 accessto IzoView, Izotropic's initial clinical study intends to demonstratesuperior performance of diagnostic breast CT imaging over diagnosticmammography procedures and will initiate in Q2 2022. In follow-onclinical 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 such information and statements byusing words such as "anticipate," "believe,""envision," "estimate," "expect,""intend," "may," "plan,""predict," "project," "target,""potential," "will," "would,""could," "should," "continue,""contemplate" and other similar expressions and derivationsthereof in connection with any discussion of future events, trends orprospects or future operating or financial performance, although notall forward-looking statements contain these identifying words. Thesestatements are not guarantees of performance and involve risks 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 Companynor its shareholders, officers, and consultants shall be liable forany action and the results of any action taken by any person based onthe information contained herein, including without limitation thepurchase or sale of Company securities. Nothing in this documentshould be deemed to be medical or other advice of anykind. All images are for illustrative purposesonly. IzoView is not yet approved for sale.
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