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BIOSENTA INC. Announces Closing of Private Placement of 6,313,003 Units and Extension of the Term of Certain Previously Issued Warrants
By: PR Newswire
Nov. 30, 2012 05:12 PM
TORONTO, Nov. 30, 2012 /CNW/ - BIOSENTA INC. (CNSX: ZRO) (the "Company") is pleased to announce that the private placement of units previously announced by news release on August 8, 2012, as further revised to increase the size of the offering on November 28, 2012 to up to 7,000,000 units, at a price of $0.20 per unit for gross proceeds of up to $1,400,000 (the "Offering"), has closed. The Company issued and sold 6,313,003 units, each unit consisting of one Class A Share and one Class A Share purchase warrant. Each warrant will entitle the holder to purchase one additional Class A Share in the capital of the Company (a "Warrant Share") at an exercise price of $0.30 per Warrant Share to the extent such Warrant is exercised on or before the date that is 18 months from November 30, 2012. In connection with the issue and sale of the units the Company paid finders' fees in the aggregate amount of $5,800. All securities issued will be subject to a four-month hold period.
In addition, the Company announces that it has extended the term of 620,000 warrants issued by the Company July 22, 2011 from January 22, 2013 to July 22, 2014. These warrants were issued as part of a private placement transaction and are exercisable into 620,000 Class A shares of the Company at a price of $0.20 per share. No warrants have been exercised to date. All other terms of the warrants shall remain unchanged.
About BIOSENTA Inc.
BIOSENTA Inc.'s line of retail anti-microbial products will effectively kill mould, bacteria and fungi on contact and prevent re-growth. These products address the demand created by the mounting health and environmental concerns. Mould can affect the immune system, nervous system, liver, kidneys, blood and cause brain damage.
BIOSENTA will also manufacture and distribute an anti-microbial filler. Calcium Carbonate is one of the most common fillers used industrially. It is susceptible like other fillers that hold moisture to attracting mould. Annual global revenue in the calcium carbonate filler industry approximates 140 billion dollars. BIOSENTA will produce anti-microbial filler that performs 'filling' and 'bulking' functions like calcium carbonate. BIOSENTA's filler product will not attract moisture and consequently mould infestation. BIOSENTA's filler with its anti-microbial high ph core in individual particles will enhance commercial product life and eradicate a broad spectrum of known bacteria, fungi, algae and other micro-organisms by suppression of their reproduction.
This release may contain forward-looking statements information and statements which constitute "forward-looking information" under Canadian securities law and which may be material regarding, among other things, the Company's beliefs, plans, objectives, estimates, intentions and expectations with respect to its capital and funding plans. Inherent in the forward-looking information and statements are known and unknown risks, uncertainties and other factors beyond the Company's ability to control or predict, which give rise to the possibility that the Company's predictions, forecasts, expectations or conclusions will not prove to be accurate, that its assumptions may not be correct and that the Company's plans, objectives and statements will not be achieved. Actual results or developments may differ materially from those contemplated by the forward-looking information and statements. Consequently, undue reliance should not placed on such forward-looking statements.
On behalf of the Board of Directors of BIOSENTA Inc.
The CNSX has in no way passed upon the merits of the proposed transaction and has neither approved nor disapproved of the contents of this press release. Neither the CNSX nor its Regulation Services Provider (as such term is defined in the policies of the CNSX) accepts responsibility for the adequacy or accuracy of this release.
SOURCE BIOSENTA Inc.
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