BioNxt Solutions Announces Debenture Financing

Rhea-AI Summary

BioNxt Solutions Inc. (CSE:BNXT)(OTCQB:XPHYF)(FSE:4XT) announced a non-brokered private placement of debenture units, seeking up to $2.6 million. Each unit, priced at $1,000, converts into 1,923 common shares and half a warrant. Debentures carry an 8.0% interest per annum and mature in two years. The offering is subject to regulatory approvals and will have a four-month hold period. BioNxt is focusing on drug formulations and diagnostics, with operations primarily in Germany. The company aims for regulatory approvals for medical products in European markets.

Positive

• Private placement of debentures could raise up to $2.6 million, providing financial support for operations.
• 8.0% interest rate on debentures may attract investors seeking consistent returns.
• Strong focus on next-generation drug formulations and diagnostic tests could position BioNxt favorably in the bioscience sector.

Negative

• Debentures are unsecured, which may pose risk to investors in case of financial instability.
• Regulatory approvals are uncertain and could delay product commercialization.

NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

VANCOUVER, BC / ACCESSWIRE / November 29, 2022 / BioNxt Solutions Inc. ("BioNxt" or the "Company") (CSE:BNXT)(OTCQB:XPHYF)(FSE:4XT), an international drug formulation and diagnostics company, is pleased to announce a non-brokered private placement of debenture units (the "Units") at a price of $1,000 per Unit for aggregate gross proceeds of up to $2,600,000 (the "Offering"). Each Unit is convertible into 1,923 common shares and one-half share purchase warrants (the "Warrants").

The Debentures will bear interest from their issue date at 8.0% per annum and will mature two years following the closing date. The Debentures are unsecured and will rank pari passu in right of payment of principal and interest with all the existing and future unsecured indebtedness of the Company. The principal amount of each Debenture will be convertible at the option of the holder into common shares in the capital of the Company (a "Common Share").

Each Warrant will be exercisable to acquire one Common Share (a "Warrant Share") at an exercise price of $0.80 per Warrant Share for a period of two years from the closing date.

All securities issued in connection with the Offering will be subject to a statutory hold period of four months and one day following the closing date of the Offering in accordance with applicable securities legislation. Completion of the Offering is subject to a number of conditions, including, but not limited to, the receipt of all regulatory approvals. The Company may pay a finder's fee in connection with the Offering to eligible arm's length finders in accordance with the policies of the Canadian Securities Exchange.

This news release does not constitute an offer to sell or the solicitation of any offer to buy, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful. The Debentures and the Shares which may be issued on exercise thereof have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the U.S. Securities Act and applicable state securities laws.

About BioNxt Solutions Inc.

BioNxt Solutions Inc. is a bioscience accelerator focused on next-generation drug formulations and delivery systems, diagnostic screening tests, and new active pharmaceutical production and evaluation, including: precision transdermal and oral dissolvable drug formulations; rapid, low-cost infectious disease and oral health screening tests; and standardization and clinical evaluation of emerging active pharmaceutical ingredients for neurological applications. The Company has research and development operations in North America and Europe, with an operational focus in Germany, and is currently focused on regulatory approval and commercialization of medical products for European markets.

BioNxt Solutions Inc.

Hugh Rogers, CEO and Director
Email: info@bionxt.com
Phone: +1 780-818-6422

Cautionary Statement Regarding "Forward-Looking" Information

Some of the statements contained in this news release are forward-looking statements and information within the meaning of applicable securities laws. Forward-looking statements and information can be identified by the use of words such as "expects", "intends", "is expected", "potential", "suggests" or variations of such words or phrases, or statements that certain actions, events or results "may", "could", "should", "would", "might" or "will" be taken, occur or be achieved. Forward-looking statements and information are not historical facts and are subject to a number of risks and uncertainties beyond the Company's control. Actual results and developments are likely to differ, and may differ materially, from those expressedor implied by the forward-looking statements contained in this news release.Accordingly, readers should not place undue reliance on forward-looking statements. The Company undertakes no obligation to update publiclyor otherwise revise any forward-looking statements, except as may be required by law.

SOURCE: BioNxt Solutions Inc.

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https://www.accesswire.com/729381/BioNxt-Solutions-Announces-Debenture-Financing

FAQ

What is BioNxt Solutions' latest financing announcement regarding XPHYF?

BioNxt Solutions announced a non-brokered private placement of debenture units seeking up to $2.6 million.

What are the terms of the debenture units offered by BioNxt Solutions?

Each debenture unit is priced at $1,000, convertible into 1,923 common shares, bearing 8.0% interest and maturing in two years.

What risks are associated with BioNxt Solutions' debenture offering?

The debentures are unsecured, which may pose risks to investors if the company faces financial issues.

How long is the hold period for securities issued in BioNxt's offering?

The securities are subject to a statutory hold period of four months and one day.

What is BioNxt Solutions' operational focus in the European market?

BioNxt is focused on regulatory approval and commercialization of medical products in European markets.