Bruush Oral Care Inc. Announces Closing of $3.0 Million Private Placement
Bruush Oral Care Inc. (NASDAQ:BRSH) has completed a private placement, raising approximately $3.0 million from institutional investors. The company issued 4,916,668 units at a price of $0.60 per unit, which includes shares of common stock and non-tradable warrants. Each warrant is exercisable at the same price for the next 5.5 years. The funds will assist in expanding Bruush's product line and elevating its position in the oral care market. Aegis Capital Corp. acted as the Exclusive Placement Agent for the offering.
- Successful private placement raising approximately $3.0 million to support business expansion.
- Issued 4,916,668 units with warrants providing future capital potential.
- None.
VANCOUVER, BC / ACCESSWIRE / December 9, 2022 / Bruush Oral Care Inc. (NASDAQ:BRSH) (the "Company") a direct-to-consumer leader in the oral care category, today closed its previously announced private placement pursuant to a securities purchase agreement with institutional investors for aggregate gross proceeds of approximately
In connection with the private placement, the Company issued 4,916,668 units and pre-funded units at a purchase price of
Aegis Capital Corp. acted as the Exclusive Placement Agent in connection with the offering.
The securities described above were sold in a private placement and have not been registered under the Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration with the Securities and Exchange Commission (the "SEC") or an applicable exemption from such registration requirements. The securities were offered only to accredited investors and QIBs. Pursuant to a registration rights agreement with the investors, the Company has agreed to file one or more registration statements with the SEC covering the resale of the common stock and the common stock issuable upon exercise of the warrants.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy any of the securities described herein, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
About Bruush Oral Care Inc.
Bruush Oral Care Inc. is on a mission to inspire confidence through brighter smiles and better oral health. Founded in 2018, we are an oral care company that is disrupting the space by reducing the barriers between consumers and access to premium oral care products. We are an e-commerce business with a product portfolio that currently consists of a sonic-powered electric toothbrush kit and brush head refills. We developed the product to make upgrading to an electric brush appealing with three core priorities in mind: (i) a high-quality electric toothbrush at a more affordable price than a comparable electric toothbrush from the competition; (ii) a sleek, countertop-friendly design; and (iii) a convenient brush head refill subscription program that eliminates the frustrating experience of purchasing replacement brush heads at the grocery/drug store. Next year, we plan to expand our portfolio with the launch of several new subscription-based consumable oral care products, including toothpaste, mouthwash, dental floss, a whitening pen, as well as an electric toothbrush designed for kids. We are rooted in building a brand that creates relevant experiences and content, with the goal of becoming the go-to oral care brand for millennials and Generation Z.
For more information on Bruush Oral Care Inc. visit: https://bruush.com
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Safe Harbor Forward-Looking Statements
This press release of Bruush Oral Care Inc. contains "forward-looking statements". Words such as "may", "will", "could", "should", "expects", "anticipates", "intends", "plans", "believes", "seeks", "estimates" and other comparable terminology are intended to identify forward-looking statements. For example, the Company is using forward-looking statements when it discusses its vision, its strategy, and its products. Forward-looking statements are not historical facts, and are based upon management's current expectations, beliefs and projections, many of which, by their nature are inherently uncertain. Such expectations, beliefs and projections are expressed in good faith. However, there could be no assurance that management's expectations, beliefs and projections will be achieved, and actual results may differ materially from what is expressed or indicated by the forward-looking statements. Forward-looking statements are subject to risks and uncertainties that could cause actual performance or results to differ materially from those expressed in the forward-looking statements. Forward-looking statements speak only as of the date the statements are made. The Company assumes no obligation to update forward-looking statements to reflect actual results, subsequent events or circumstances, changes in assumptions or changes in other factors affecting forward-looking statements except to the extent required by applicable securities laws. If the Company does update one or more forward-looking statement, no inference should be drawn that the Company will make additional updates with respect thereto or with respect to other forward-looking statements.
Investor Relations Contact:
Colette Eymontt
TraDigital IR
colette@tradigitalir.com
SOURCE: Bruush Oral Care Inc.
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