(TheNewswire)
Calgary, Alberta - TheNewswire - November 9, 2023 - nDatalyze Corp. (“ NDAT ” or the “ Corporation ”) (CSE:NDAT) (OTC:NDATF) announces the Corporation has closedits previously announced non-brokered private placement (the“ Offering ”) of units (“ Units ”).
The Offering consistedof 2,315,000 Units for total gross proceeds of $277,800. Each Unitconsisted of
one common share and one-half of one common share purchase warrant,with each warrant entitling the holder thereof to acquire one commonshare at $0.25 for 18 months from the date of issuance, subject toaccelerated expiry provision described in the Corporation’s newsrelease dated October 6, 2023.
In connection with the Offering, the Corporation paideligible finders aggregate cash finders fees of approximately
$4,800 and issued 40,000 finders options to purchase common shares ofthe Corporation at an exercise price of
$0.25 per common share, within 18 months from the closing date of theOffering.
The Corporation intends to use the grossproceeds of the sale ofthe Units to pay eligible finder fees toeligible finders, to advance the Corporation’s Clinical Study related to its YMI machine-learning-based mental healthclinical decision system and for general working capitalpurposes.
The Offering is subject to all necessary regulatoryapprovals including acceptance from the Exchange. All securitiesissued in connection with the Offering will be subject to a four-monthplus one day hold period from the closing date under applicableCanadian securities laws, in addition to such other restrictions asmay apply under applicable securities laws of jurisdictions outsideCanada.
As at this date, and including the Offering proceedsthe Corporation has working capital of approximately $975,000 and nodebt.
About YMI: YMIuses evidence-based, objective data from whole life experiences topredict individual mental states over time and applies this knowledge towards a fuller understanding of how mental health develops and to improve mentalwellbeing. YMI combines machine-learning with a proprietary ReferenceDatabase that contains >1200 person’s genetic expressions,childhood environment, habits, phobias, lived experiences andlifestyle to generate a personalized graphic report predicting anindividual’s predisposition toward a variety of common mentalconditions, both current and forward in time.
For further information, please c ontact:
James Durward ,
Chief Executive Officer
Telephone: (403) 689-3901
Email: jimd@ndatalyze.com
nDatalyze Website: https://w ww. ndatal yze. com
YMI Website: https://ymihealth.ca
Neither the Canadian Securities Exchange nor itsRegulation Services Provider (as that term is defined in the policiesof the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release. This news release does not constitute an offer to sell or a solicitation of an offer to sell any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act")or any state securities laws and may not be offered or sold within theUnited States or to U.S. Persons unlessregistered under the U.S. Securities Act and applicable statesecurities laws or an exemption from such registration isavailable.
The information in this news release includes certaininformation and statements about management's view of future events,expectations, plans and prospects thatconstitute forward looking statements. These statements are based uponassumptions that are subject to significant risks and uncertainties. Because of these risks and uncertainties andas a result of a variety of factors, the actual results, expectations,achievements or performance may differmaterially from those anticipated and indicated by theseforward-looking statements. Any number of factors could cause actual results to differ materially from theseforward-looking statements as well as future results. Although theCorporation believes that the expectationsreflected in forward looking statements are reasonable, it can give noassurances that the expectations of any forward-looking statements will prove to be correct. Except as required bylaw, the Corporation disclaims any intention and assumes no obligationto update or revise any forward-lookingstatements to reflect actual results, whether as a result of newinformation, future events, changes in assumptions, changes in factors affecting such forward-looking statementsor otherwise.
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