STOCK TITAN

NeutriSci Arranges Strategic Financing with Tabletz and Exercise of Warrants

Rhea-AI Impact
(Moderate)
Rhea-AI Sentiment
(Neutral)
Tags
Rhea-AI Summary

NeutriSci International has announced a non-brokered private placement, securing $276,550 through the exercise of 4,900,000 warrants. This placement involves 210,333 units sold at $0.15 each, granting the right to purchase additional shares at the same price for 18 months. Proceeds will be allocated to production expansion in Japan, B2B development, and general working capital. The deal is pending approval from the TSX Venture Exchange.

Positive
  • Secured $276,550 through a private placement and warrant exercise.
  • Plans to expand production runs in Japan for B2B development.
Negative
  • None.

VANCOUVER, BC / ACCESSWIRE / September 10, 2021 / NeutriSci International Inc. ("NeutriSci" or the "Company") (TSXV:NU)(OTCQB:NRXCF)(FRA:1N9), an innovative technology company developing products, licencing IP, and technology for B2B partnerships and the nutraceutical industry, is pleased to announce that it has arranged a non-brokered private placement (the "Placement") and the exercise of 4,900,000 warrants, for total combined proceeds of $276,550.

The Placement, which is being completed with a principal of the Company's distribution partner in Japan, Tabletz LLC, consists of 210,333 units (the "Units") of the Company at a price of $0.15 per Unit. Each Unit consists of one common share and one common share purchase warrant, with each whole warrant entitling the holder to acquire an additional common share of the Company at a price of $0.15 for a period of eighteen months from the date of issuance. All securities issued in connection with the Placement will be subject to a four-month-and-one-day statutory hold period from the date of issuance. Closing of the Placement remains subject to the approval of the TSX Venture Exchange.

NeutriSci will use the net proceeds of the Placement and warrant exercise for expansion of production runs for Japan, B2B development and for general working capital purposes.

About NeutriSci International Inc.
NeutriSci specializes in the innovation, production, and formulation of nutraceutical products. Established in 2009, NeutriSci's is building sustainable sales models with Convenience, Chain Drug, and Mass Market and Supermarket retailers for its products offering co-branding as well as private label opportunities and contract manufacturing services. For more information, please visit: www.neutrisci.com.

On Behalf of the Board of Directors of

NEUTRISCI INTERNATIONAL INC.
Glen Rehman
CEO
Tel: (403) 264-6320

For investor inquiries, please contact investors@neutrisci.com

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of this release.

This news release may include forward-looking statements that are subject to risks and uncertainties. All statements within, other than statements of historical fact, are to be considered forward-looking. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, continued availability of capital and financing, and general economic, market or business conditions. There can be no assurances that such statements will prove accurate and, therefore, readers are advised to rely on their own evaluation of such uncertainties. We do not assume any obligation to update any forward-looking statements except as required under the applicable laws.

Statements in this press release have not been evaluated by the Food and Drug Administration. Products or ingredients are not intended to diagnose, treat, cure, or prevent any disease.

SOURCE: NeutriSci International Inc



View source version on accesswire.com:
https://www.accesswire.com/663601/NeutriSci-Arranges-Strategic-Financing-with-Tabletz-and-Exercise-of-Warrants

FAQ

What is the amount raised in NeutriSci's recent private placement?

NeutriSci raised $276,550 through a non-brokered private placement and warrant exercise.

What is the price per unit for NeutriSci's private placement?

Each unit in NeutriSci's private placement was sold for $0.15.

What will the proceeds from NeutriSci's private placement be used for?

The proceeds will be used for production expansion in Japan, B2B development, and general working capital.

How many warrants were exercised by NeutriSci?

NeutriSci exercised 4,900,000 warrants as part of the financing.

Is the private placement subject to regulatory approval?

Yes, the closing of the private placement is subject to approval from the TSX Venture Exchange.

NEUTRISCI INTL INC ORD

OTC:NRXCF

NRXCF Rankings

NRXCF Latest News

NRXCF Stock Data

1.30M
175.69M
1.03%
Drug Manufacturers - Specialty & Generic
Healthcare
Link
United States of America
Vancouver