From the Wires
BIOSENTA INC. Announces Increase in Size of its August 2012 Private Placement and Extension of the Term of Certain Previously Issued Warrants
By: PR Newswire
Nov. 28, 2012 05:39 PM
TORONTO, Nov. 28, 2012 /CNW/ - BIOSENTA INC. (CNSX: ZRO) (the "Company") is pleased to announce that the private placement previously announced by news release on August 8, 2012, as further revised to increase the size of the offering on September 21, 2012, is being increased to up to 7,000,000 units at a price of $0.20 per unit for gross proceeds of up to $1,400,000 (the "Offering"). Each unit consists of one Class A Share and one Class A Share purchase warrant. Each warrant will entitle the holder to purchase one additional Class A Share in the capital of the Company (a "Warrant Share") at an exercise price of $0.30 per Warrant Share to the extent such Warrant is exercised on or before the date that is 18 months from the closing date of the Offering. In addition, subject to regulatory approval and successful closing of the Offering, the Company may pay a finder's fee. All securities issued will be subject to a four-month hold period. The proceeds will be used for working capital purposes, in furtherance of the Company's activities in connection with development of its retail anti-mold product, Zeromold and development of it's pilot plant. The Company expects to close the private placement not later than December 1, 2012.
In addition, the Company announces that it has extended the term of 7,900,000 warrants issued by the Company July 22, 2011 from January 22, 2013 to July 22, 2014. These Warrants were issued as part of a private placement transaction and are exercisable into 7,900,000 Class A shares of the Company at a price of $0.30 per share. No warrants have been exercised to date. All other terms of the warrants shall remain unchanged.
About BIOSENTA Inc.
BIOSENTA Inc.'s line of retail anti-microbial products will effectively kill mould, bacteria and fungi on contact and prevent re-growth. These products address the demand created by the mounting health and environmental concerns. Mould can affect the immune system, nervous system, liver, kidneys, blood and cause brain damage.
BIOSENTA will also manufacture and distribute an anti-microbial filler. Calcium Carbonate is one of the most common fillers used industrially. It is susceptible like other fillers that hold moisture to attracting mould. Annual global revenue in the calcium carbonate filler industry approximates 140 billion dollars. BIOSENTA will produce anti-microbial filler that performs 'filling' and 'bulking' functions like calcium carbonate. BIOSENTA's filler product will not attract moisture and consequently mould infestation. BIOSENTA's filler with its anti-microbial high ph core in individual particles will enhance commercial product life and eradicate a broad spectrum of known bacteria, fungi, algae and other micro-organisms by suppression of their reproduction.
This release may contain forward-looking statements information and statements which constitute "forward-looking information" under Canadian securities law and which may be material regarding, among other things, the Company's beliefs, plans, objectives, estimates, intentions and expectations with respect to its capital and funding plans. Inherent in the forward-looking information and statements are known and unknown risks, uncertainties and other factors beyond the Company's ability to control or predict, which give rise to the possibility that the Company's predictions, forecasts, expectations or conclusions will not prove to be accurate, that its assumptions may not be correct and that the Company's plans, objectives and statements will not be achieved. Actual results or developments may differ materially from those contemplated by the forward-looking information and statements. Consequently, undue reliance should not placed on such forward-looking statements.
On behalf of the Board of Directors of BIOSENTA Inc.
The CNSX has in no way passed upon the merits of the proposed transaction and has neither approved nor disapproved of the contents of this press release. Neither the CNSX nor its Regulation Services Provider (as such term is defined in the policies of the CNSX) accepts responsibility for the adequacy or accuracy of this release.
SOURCE BIOSENTA Inc.
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