Vancouver, British Columbia--(Newsfile Corp. - May 31, 2018) - Izotropic Corporation (CSE: IZO) ("Izotropic" or the "Company") is pleased to announce that it has successfully completed its initial public offering (the "IPO") of 2,000,000 common shares in the capital of the Company (each, a "Share") at a price of $0.10 per Share for gross proceeds of $200,000 (the "Proceeds").
Chippingham Financial Group Limited acted as agent (the "Agent") for the IPO. The Company paid the Agent a cash commission of $20,000 and granted an aggregate of 200,000 agent's options, each of which entitles the holder thereof to purchase one Share at a price of $0.10 per Share for a period of 24 months from the date of the listing of the Shares on the Canadian Securities Exchange (the "Exchange"). The Company also paid the Agent a work fee.
The Shares were approved for listing on the Exchange on May 31, 2018 and will commence trading on the Exchange on June 4, 2018 under the symbol IZO.
The Company has granted an aggregate of 1,950,000 stock options under the Company's Stock Option Plan to its directors, officers and consultants. 1,750,000 of the stock options are exercisable at a price of $0.10 per Share until September 20, 2022 and 200,000 of the stock options are exercisable at a price of $0.10 per Share until October 20, 2022.
About Izotropic
The Company is engaged in the development and commercialization of next generation 3-D breast CT imaging technology for early diagnosis of breast cancer, that improves patient comfort, provides a true 360-degree view acquisition and delivers high diagnostic accuracy.
For more information, please refer to the Company's prospectus dated May 14, 2018, which is available under the Company's profile on SEDAR at www.sedar.com.
ON BEHALF OF THE BOARD
"Robert Thast"
Robert Thast
Chief Executive Officer, Director
and Promoter
For further information, please contact:
Robert Thast
Telephone: 604.542.9458
Email: bthast@telus.net
Disclaimer for Forward-Looking Information
Certain statements in this release are forward-looking statements, which reflect the expectations of management regarding the Company's listing of its common shares on the Exchange. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future, including but not limited to the shares commencing trading on the Exchange on June 4, 2018 under the symbol IZO. Such statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements, including risks related to factors beyond the control of the Company. No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits the Company will obtain from them.
This news release does not constitute an offer to sell or solicitation of an offer to buy 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 the United States or to a U.S. Person unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES FOR DISSEMINATION IN THE UNITED STATES
