Nutriband Inc. Receives Additional $2,062,500 from Exercise of Warrants, Increasing Total Capital from Public Offering and Nasdaq Listing to Approx. $8.7M

Rhea-AI Summary

Nutriband Inc. (NASDAQ:NTRB, NTRBW) has announced the receipt of $2,062,500 from the exercise of 275,000 warrants at $7.50 each, linked to its earlier public offering on October 1, 2021. This adds to the $6,600,000 garnered from the sale of 1,056,000 shares, bringing the total gross proceeds to approximately $8,662,500 as of October 21, 2021. Nutriband focuses on developing transdermal pharmaceutical products, particularly an abuse deterrent fentanyl patch utilizing its AVERSA technology.

Positive

• Received additional gross proceeds of $2,062,500 from warrant exercises.
• Total proceeds from the public offering reached approximately $8,662,500.
• Focus on developing innovative transdermal products, enhancing growth potential.

Negative

• None.

ORLANDO, FL / ACCESSWIRE / October 22, 2021 / Nutriband Inc. (NASDAQ:NTRB)(NASDAQ:NTRBW), a company engaged in the development of pharmaceutical products, contract research and development services, and the manufacture of transdermal products, is pleased to announce the receipt of $2,062,500 in additional gross from the exercise of warrants issued in the Company's October 1, 2021 public offering of securities.

Investors participating in Nutriband's financing exercised a total of 275,000 warrants at a price of $7.50 per share. Combined with the Company's underwritten public offering of 1,056,000 shares, in which the Company announced the receipt of gross proceeds of $6,600,000, the Company has received an aggregate of approximately $8,662,500 as of October 21, 2021.

About Nutriband Inc.

We are primarily engaged in the development of a portfolio of transdermal pharmaceutical products. Our lead product under development is an abuse deterrent fentanyl patch incorporating our AVERSA ® technology. Aversa is an abuse deterrent transdermal technology that incorporates aversive agents to prevent the abuse, diversion, misuse and accidental exposure of drugs with abuse potential, specifically opioids.

The Company's website is www.nutriband.com. Any material contained in or derived from the Company's websites or any other website is not part of this press release.

Forward-Looking Statements

Certain statements contained in this press release, including, without limitation, statements containing the words ‘'believes,'' "anticipates," "expects" and words of similar import, constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve both known and unknown risks and uncertainties. The Company's actual results may differ materially from those anticipated in its forward-looking statements as a result of a number of factors, including those including the Company's ability to develop its proposed abuse deterrent fentanyl transdermal system and other proposed products, its ability to obtain patent protection for its abuse technology, its ability to obtain the necessary financing to develop products and conduct the necessary clinical testing, its ability to obtain Federal Food and Drug Administration approval to market any product it may develop in the United States and to obtain any other regulatory approval necessary to market any product in other countries, including countries in Europe, its ability to market any product it may develop, its ability to create, sustain, manage or forecast its growth; its ability to attract and retain key personnel; changes in the Company's business strategy or development plans; competition; business disruptions; adverse publicity and international, national and local general economic and market conditions and risks generally associated with an undercapitalized developing company, as well as the risks contained under "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" in the Company's Form S-1, Form 10-K for the year ended January 31, 2020 and Forms 10-Q, and the Company's other filings with the Securities and Exchange Commission. Except as required by applicable law, we undertake no obligation to revise or update any forward-looking statements to reflect any event or circumstance that may arise after the date hereof.

For more information, contact:

Investor Relations
RedChip Companies
Dave Gentry
Dave@redchip.com
1-800-RED-CHIP (733-2447)
407-491-4498

SOURCE: Nutriband Inc.

View source version on accesswire.com:
https://www.accesswire.com/669166/Nutriband-Inc-Receives-Additional-2062500-from-Exercise-of-Warrants-Increasing-Total-Capital-from-Public-Offering-and-Nasdaq-Listing-to-Approx-87M

FAQ

What are the key financial details from Nutriband's recent announcements?

Nutriband received $2,062,500 from warrant exercises and a total of $8,662,500 from its public offering and warrant exercise.

What does Nutriband's AVERSA technology do?

AVERSA technology is designed to prevent the abuse, diversion, misuse, and accidental exposure of drugs with abuse potential, specifically opioid drugs.

When was Nutriband's public offering conducted?

Nutriband's public offering was conducted on October 1, 2021.

How many warrants did investors exercise?

Investors exercised a total of 275,000 warrants at a price of $7.50 per share.

What total proceeds has Nutriband raised from its public offering?

Nutriband has raised a total of approximately $8,662,500 from its public offering and subsequent warrant exercises.