Toronto, Ontario--(Newsfile Corp. - April 26, 2024) - Biosenta Inc. (CSE: ZRO) (the "Company" or "Biosenta"), is pleased to announce that it has closed its private placement for gross proceeds of $600,000 (the "Offering"), as previously announced on April 19, 2024. Biosenta issued 1,500,000 units (each, a "Unit") under the Offering at a price of $0.40 per Unit, with each Unit consisting of one common share in the capital of the Company (each, a "Common Share") and one half of one Common Share purchase warrant (each whole warrant, a "Warrant"). Each Warrant entitles its holder to acquire one common share at a price of $0.80 for a period of 18 months from the closing date of the Offering.
The securities issued pursuant to the Offering will be subject to a four-month plus one day "hold period" expiring August 27, 2024, as prescribed by applicable Canadian securities laws.
As a result of closing the Offering, there are 31,738,888 Common Shares of Biosenta issued and outstanding on a non-diluted basis.
The Company intends to use the net proceeds from the Offering for general corporate purposes.
The Company did not incur any finders' or brokers' fees in connection with the Offering.
About Biosenta
Biosenta is a Canadian-based company that develops and manufactures a range of safe and environmentally sound chemical compounds for household and industrial applications.
For further details on the Company, please see the Company's publicly available documents filed on the System for Electronic Document Analysis and Retrieval (SEDAR+).
Forward-Looking Statements
This press release contains "forward-looking information" within the meaning of applicable Canadian securities legislation including statements regarding the use of proceeds which is based upon Biosenta's current internal expectations, estimates, projections, assumptions and beliefs, and views of future events. Forward-looking information can be identified by the use of forward-looking terminology such as "expect", "likely", "may", "will", "should", "intend", "anticipate", "potential", "proposed", "estimate" and other similar words, including negative and grammatical variations thereof, or statements that certain events or conditions "may", "would" or "will" happen, or by discussions of strategy. Forward-looking information includes estimates, plans, expectations, opinions, forecasts, projections, targets, guidance, or other statements that are not statements of fact. The forward-looking statements are expectations only and are subject to known and unknown risks, uncertainties and other important factors that could cause actual results of the Company or industry results to differ materially from future results, performance or achievements. Any forward-looking information speaks only as of the date on which it is made, and, except as required by law, Biosenta does not undertake any obligation to update or revise any forward-looking information, whether as a result of new information, future events, or otherwise. New factors emerge from time to time, and it is not possible for Biosenta to predict all such factors.
When considering these forward-looking statements, readers should keep in mind the risk factors and other cautionary statements as set out in the materials we file with applicable Canadian securities regulatory authorities on SEDAR+ at www.sedarplus.ca including our Management's Discussion and Analysis for the interim period ended December 31, 2023. These risk factors and other factors could cause actual events or results to differ materially from those described in any forward-looking information.
The CSE does not accept responsibility for the adequacy or accuracy of this release.
SOURCE Biosenta Inc.
For further information please contact:
Am Gill, President and CEO of Biosenta Inc. | Phone: 416-410-2019
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/207118
SOURCE: Biosenta Inc.
