Not for distribution to United States newswire services or for dissemination in the United States.
VANCOUVER, British Columbia, Oct. 24, 2018 — Breathtec Biomedical Inc. (CSE: BTH) (CNSX: BTH) (FRANKFURT: BTI) (OTCQB: BTHCF) (the “Company” or “Breathtec”) is pleased to announce that it has closed its previously announced non-brokered private placement of 2,083,334 units (the “Units”) at a price of $0.24 per Unit for gross proceeds of $500,000.16 (the “Offering”).
Each Unit consists of one common share in the capital of the Company (a “Share”) and one common share purchase warrant (a “Warrant”). Each Warrant will entitle the holder to purchase one additional Share until October 23, 2020 at a purchase price of $0.50 per Share.
In connection with the Offering, the Company has paid a cash commission in the aggregate amount of $1,263.94 being 8% of the aggregate proceeds raised from the sale of units to purchasers introduced by eligible finders. In addition, the Company has issued warrants (the “Finders’ Warrants”) to acquire a total of 5,266 Shares, being 8% of the number of Units sold under the Offering to purchasers introduced by such finders. Each Finders’ Warrant entitles the holder to purchase one Share at a price of $0.24 per Share until October 23, 2020.
All securities issued in connection with the Offering are subject to a statutory hold period expiring February 24, 2019 in accordance with applicable securities legislation. The proceeds from the Offering will be used for general working capital, including in connection with the recent acquisition of Nash Pharmaceuticals Inc. (see press release dated October 22, 2018).
About Breathtec Biomedical Inc.
Breathtec Biomedical, Inc. (“Breathtec”) is focussed on two separate core business divisions: medical devices and pharmaceutical development through drug re-purposing. Its medical device division is focused on the development of a point of care, real-time screening device for human breath analysis based on innovation and advances in the field of FAIMS (field asymmetric waveform ion mobility spectrometry) technology.
Its pharmaceutical development division is being advanced by its subsidiary Nash Pharmaceuticals. Nash is a clinical stage pharmaceutical development company focused on drug repurposing in the areas of non–alcoholic steatohepatitis (NASH), chronic kidney disease (CKD) and inflammatory bowel disease (IBD). For more information, visit www.breathtecbiomedical.com.
The CSE does not accept responsibility for the adequacy or accuracy of this release.
THIS PRESS RELEASE, REQUIRED BY APPLICABLE CANADIAN LAWS, IS NOT FOR DISTRIBUTION TO U.S. NEWS SERVICES OR FOR DISSEMINATION IN THE UNITED STATES, AND DOES NOT CONSTITUTE AN OFFER OF THE SECURITIES DESCRIBED HEREIN. THESE SECURITIES HAVE NOT BEEN REGISTERED UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED, OR ANY STATE SECURITIES LAWS, AND MAY NOT BE OFFERED OR SOLD IN THE UNITED STATES OR TO U.S. PERSONS UNLESS REGISTERED OR EXEMPT THEREFROM.
CAUTIONARY DISCLAIMER STATEMENT: No Securities Exchange has reviewed nor accepts responsibility for the adequacy or accuracy of the content of this news release. This news release contains forward-looking statements relating to product development, licensing, commercialization and regulatory compliance issues and other statements that are not historical facts. Forward-looking statements are often identified by terms such as “will”, “may”, “should”, “anticipate”, “expects” and similar expressions. All statements other than statements of historical fact, included in this release are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company’s expectations include the failure to satisfy the conditions of the relevant securities exchange(s) and other risks detailed from time to time in the filings made by the Company with securities regulations. The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company. The reader is cautioned not to place undue reliance on any forward-looking information. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made as of the date of this news release and the Company will update or revise publicly any of the included forward-looking statements as expressly required by applicable law.