IZOZF - Izotropic to Extend Period for Unsecured Loans
(TheNewswire)
Vancouver, BC - TheNewswire- March 29, 2023 - IzotropicCorporation (“ 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, announces itsintent to extend unsecured loans.
On March 30, 2022, the Company entered into anon-brokered private placement of unsecured promissory notes in whichthe Company issued notes for $2,050,000.00 with the option for theCompany to acquire an additional $2,000,000.00 subject to terms to bedetermined at a later date. A total of 826,613 detachable sharepurchase warrants exercisable at $0.62 for a period of two years (yetunexercised) were also issued.
Under the agreement notes mature one year from the dateof issuance and bear simple interest at 1% per month from the date ofissuance and payable every three months or, be subject to an originalissuance discount in lieu of paying interest. The final terms were tobe determined subject to the policies of the Canadian SecuritiesExchange.
The Company now plans to extend the agreement and loanperiod and is in discussions with the two lenders in this regard. Theintention is to repay the loans in cash and or equity in future andthe new terms will be announced when finalized.
ON BEHALF OF THE BOARD
Investor Relations Contact:
Email: info@izocorp.com
Toll Free: 1-833-IZOCORP ext.1
Media Inquiries Contact:
Ms. 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, Izotropicintends to validate platform applications, including breast screeningin radiology, treatment planning and monitoring in surgical oncology,and breast reconstruction and implant monitoring in plastic andreconstructive 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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