Promino Nutritional Sciences Inc. Announces Private Placement Financing
Promino Nutritional Sciences (CSE: MUSL) (OTC Pink: MUSLF) has announced a private placement financing to raise up to $750,000. The company will offer units at $0.05 each, with each unit consisting of one common share and one purchase warrant. The warrants will be exercisable at $0.18 per share for a 24-month period from issuance.
All securities issued will have a statutory hold period of four months and one day. Promino may pay finder's fees in accordance with applicable securities laws and Canadian Securities Exchange policies. The offering requires customary conditions and necessary approvals, including CSE acceptance.
The company plans to use the net proceeds to accelerate sales and fulfillment of its sports beverages, Promino™ and Rejuvenate Muscle™ Health, settle outstanding liabilities, and for general working capital purposes.
Promino Nutritional Sciences (CSE: MUSL) (OTC Pink: MUSLF) ha annunciato un finanziamento tramite collocamento privato per raccogliere fino a $750.000. L'azienda offrirà unità a $0,05 ciascuna, con ogni unità composta da un'azione ordinaria e un warrant di acquisto. I warrant saranno esercitabili a $0,18 per azione per un periodo di 24 mesi dalla data di emissione.
Tutti i titoli emessi avranno un periodo di blocco legale di quattro mesi e un giorno. Promino potrebbe pagare commissioni di intermediazione in conformità con le leggi sui titoli applicabili e le politiche della Canadian Securities Exchange. L'offerta richiede condizioni consuete e approvazioni necessarie, inclusa l'accettazione da parte della CSE.
L'azienda prevede di utilizzare i proventi netti per accelerare le vendite e l'adempimento delle sue bevande sportive, Promino™ e Rejuvenate Muscle™ Health, saldare passività pendenti e per scopi generali di capitale circolante.
Promino Nutritional Sciences (CSE: MUSL) (OTC Pink: MUSLF) ha anunciado un financiamiento por colocación privada para recaudar hasta $750,000. La compañía ofrecerá unidades a $0.05 cada una, con cada unidad compuesta por una acción común y un warrant de compra. Los warrants serán ejercitables a $0.18 por acción durante un período de 24 meses a partir de la emisión.
Todos los valores emitidos tendrán un período de retención legal de cuatro meses y un día. Promino puede pagar honorarios de intermediarios de acuerdo con las leyes de valores aplicables y las políticas de la Canadian Securities Exchange. La oferta requiere condiciones habituales y aprobaciones necesarias, incluida la aceptación por parte de la CSE.
La compañía planea utilizar los ingresos netos para acelerar las ventas y el cumplimiento de sus bebidas deportivas, Promino™ y Rejuvenate Muscle™ Health, liquidar pasivos pendientes y para fines generales de capital de trabajo.
프로미노 영양 과학 (CSE: MUSL) (OTC Pink: MUSLF)는 최대 $750,000을 모금하기 위한 사모 배정 자금을 발표했습니다. 회사는 각 단위를 $0.05에 제공하며, 각 단위는 하나의 보통주와 하나의 매수 보증서로 구성됩니다. 보증서는 발행일로부터 24개월 동안 주당 $0.18에 행사할 수 있습니다.
발행된 모든 증권은 법적 보유 기간이 4개월 1일입니다. 프로미노는 관련 증권법 및 캐나다 증권 거래소 정책에 따라 중개 수수료를 지급할 수 있습니다. 이 제안은 일반적인 조건과 필요한 승인, 즉 CSE의 승인을 요구합니다.
회사는 순수익을 사용하여 스포츠 음료의 판매 및 이행을 가속화하고, 미지급 부채를 정산하며, 일반 운영 자본 용도로 사용할 계획입니다.
Promino Nutritional Sciences (CSE: MUSL) (OTC Pink: MUSLF) a annoncé un financement par placement privé pour lever jusqu'à $750,000. L'entreprise proposera des unités à 0,05 $, chaque unité se composant d'une action ordinaire et d'un bon de souscription. Les bons seront exerçables à 0,18 $ par action pendant une période de 24 mois à compter de l'émission.
Tous les titres émis auront une période de blocage légale de quatre mois et un jour. Promino peut payer des frais d'intermédiation conformément aux lois sur les valeurs mobilières applicables et aux politiques de la Bourse canadienne des valeurs mobilières. L'offre nécessite des conditions habituelles et des approbations nécessaires, y compris l'acceptation par la CSE.
L'entreprise prévoit d'utiliser les produits nets pour accélérer les ventes et l'exécution de ses boissons sportives, Promino™ et Rejuvenate Muscle™ Health, régler des passifs en cours et pour des besoins généraux de fonds de roulement.
Promino Nutritional Sciences (CSE: MUSL) (OTC Pink: MUSLF) hat eine Privatplatzierungsfinanzierung angekündigt, um bis zu $750.000 zu sammeln. Das Unternehmen wird Einheiten zu je $0,05 anbieten, wobei jede Einheit aus einer Stammaktie und einem Kaufwarrant besteht. Die Warrants können für einen Zeitraum von 24 Monaten ab Ausgabe zu $0,18 pro Aktie ausgeübt werden.
Alle ausgegebenen Wertpapiere haben eine gesetzliche Haltedauer von vier Monaten und einem Tag. Promino kann Vermittlungsgebühren gemäß den geltenden Wertpapiergesetzen und den Richtlinien der Canadian Securities Exchange zahlen. Das Angebot erfordert übliche Bedingungen und notwendige Genehmigungen, einschließlich der Akzeptanz durch die CSE.
Das Unternehmen plant, die Nettomittel zu verwenden, um Verkäufe und Erfüllung seiner Sportgetränke, Promino™ und Rejuvenate Muscle™ Health, zu beschleunigen, ausstehende Verbindlichkeiten zu begleichen und für allgemeine Betriebskapitalzwecke zu verwenden.
- Raising up to $750,000 to strengthen financial position
- Proceeds will accelerate sales of key sports beverage products
- Funds will help settle outstanding liabilities
- Potential dilution for existing shareholders
- Warrants priced at $0.18 represent significant premium to current unit price of $0.05
Burlington, Ontario--(Newsfile Corp. - February 24, 2025) - Promino Nutritional Sciences Inc. (CSE: MUSL) (OTC Pink: MUSLF) (FSE: 93X) ( the "Company" or "Promino") (www.drinkpromino.com) is pleased to announce it intends to conduct a private placement of units of the Company ("Units") at a price of
Each Unit will be comprised of one common share of the Company and one common share purchase warrant, with each warrant exercisable to acquire one common share of the Company at a price of
The Company intends to use the net proceeds of the Offering to to accelerate sales and fulfillment of Promino's marquee muscle strength and recovery sports beverages, Promino™ and Rejuvenate Muscle™ Health, settle outstanding liabilities and for general working capital purposes.
About Promino
Promino is an innovative and research driven Canadian nutraceutical company specializing in the development of patented and science-based products for the global consumer packaged goods market, with a portfolio focused specifically on muscle health. Promino's lead product, Rejuvenate Muscle™ Activator, is a patented proprietary formulation that is clinically proven to assist in the building, rebuilding, restoration and rejuvenation of natural muscle mass. Promino also offers Promino™, an elite performance supplement for both professional and amateur athletes to accelerate muscle recovery, build strength and accelerate recovery from injury. Promino was founded in 2015 and is located in Burlington, Ontario.
To learn more about Promino, visit www.drinkpromino.com.
For more information about Rejuvenate Muscle™ Activator and where to purchase, visit www.rejuvenatemuscle.com.
Forward-Looking Statements
This news release contains "forward-looking information" and "forward-looking statements" (collectively, "forward-looking statements") within the meaning of applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this news release. In some cases, forward looking statements are preceded by, followed by, or include words such as "may", "will," "would", "could", "should", "believes", "estimates", "projects", "potential", "expects", "plans", "anticipates", "continues", or the negative of those words or other similar or comparable words. In this news release, forward-looking statements include, without limitation, statements regarding: the Offering, including the timing, terms and anticipated use of proceeds of the Offering. In preparing the forward-looking statements in this news release, the Company has applied several material assumptions, including, but not limited to, assumptions regarding the availability of capital resources, business performance, market conditions, customer demand and general economic conditions. Although the forward-looking information contained herein is based upon what management believes are reasonable assumptions as at the date they were made, investors are cautioned against placing undue reliance on these statements since actual results may vary from the forward-looking information. Consequently, all of the forward-looking statements contained herein is qualified by the foregoing cautionary statements, and there can be no guarantee that the results or developments that management anticipates will be realized. Unless otherwise noted or the context otherwise indicates, the forward-looking statements contained herein is provided as of the date hereof, and management does not undertake to update or amend such forward-looking statements whether as a result of new information, future events or otherwise, except as may be required by applicable law.
SOURCE Promino Nutritional Sciences Inc.
No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.
For further information:
Vito Sanzone, vsanzone@drinkpromino.com, 289-348-1970 ext. 222
Marc Charbin, Investor Relations, marc.charbin@loderockadvisors.com, 416-467-5229
NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/242217
FAQ
What is the price per unit in Promino Nutritional Sciences' (MUSLF) private placement?
How much funding is Promino Nutritional Sciences (MUSLF) aiming to raise in its February 2025 offering?
What will Promino Nutritional Sciences (MUSLF) use the proceeds from the private placement for?
How long is the hold period for securities issued in Promino's (MUSLF) private placement?
What is the exercise price and term for warrants in Promino's (MUSLF) February 2025 financing?
