Tickers: XCNQ:BZI, PINX:NTCEF
Tags: Finance
Vancouver, British Columbia / TheNewswire / January 15, 2018 -- Brisio Innovations Inc. (CSE: BZI) (PINKSHEETS: NTCEF) (the "Company") is pleased to announce that it has closed the financing announced on December 29, 2017 by issuing 5,000,000 units for a total of $1 million (the "Financing"). Insiders of the Company purchased 45% of the placement. These funds will be used to evaluate new investment opportunities that capitalize on innovative new technologies, including but not limited to investing in IOT (Internet of Things), Internet Services, Scientific Instrumentation, & Artificial Intelligence.
Under the Financing, each Unit consisted one common share of the Company (each, a "Share") and one-half of one share purchase warrant (each, a "Warrant"). Each whole Warrant entitles the holder thereof to purchase one additional Share at a price of $0.30 per Share for a period of two years from closing of the Financing. In the event that the average closing price is equal to or greater than $0.45 per Share for a period of twenty consecutive trading days, the Company may accelerate the expiry date of the Warrants to a date that is thirty days after the notice of completion of such period. The securities issued under the Financing are subject to a restriction period expiring on May 16, 2018. No finders fees were paid under the Financing.
CEO Paul Andreola states: "The investment landscape has changed dramatically recently, with incredible gains being realized in sectors that virtually didn't exist just a few short quarters ago. The investment thesis that the Company has historically employed remains the same: to find undervalued opportunities with strong fundamentals. Our new mandate is to provide shareholders with exposure to these proliferating sectors while staying true to our prevailing investment thesis, and we are very encouraged by the quality of opportunities that the team is currently reviewing."
The Company also wishes to announce that it has invested $100,000 into Nanalysis Corp. by way of convertible note. Note terms: the borrower agrees to pay the lender simple non-compounding interest on the loan until the loan is paid in full at a rate of 11% per year. The lender may, in its option, elect to have the unpaid principal plus accrued interest repaid by the borrower in Class A Common Shares of the borrower at a price of $0.25 per share, subject to customary adjustments for share splits / consolidations etc.
Nanalysis is headquartered in Calgary, Alberta, Canada and develops and manufactures portable Nuclear Magnetic Resonance (NMR) spectrometers for the laboratory instrumentation market. The NMReady(TM)-60is the first fully featured portable NMR spectrometer in a single compact enclosure requiring no liquid helium or any other cryogens. The NMReady-60 family of NMR spectrometers are used by chemical professionals in all types of industries (oil & gas, chemical, pharma, cannabis, biotech, food processing) as well as government and university labs.
Brisio Innovations Inc.
Paul Andreola
President, CEO and Director
(604) 644-0072
www.brisio.com,
About Nanalysis Corp.
Nanalysis Corp. was established in 2009. The company develops and manufactures portable Nuclear Magnetic Resonance (NMR) spectrometers for the laboratory instrumentation market. The NMReady(TM)-60is the first fully featured portable NMR spectrometer in a single compact enclosure requiring no liquid helium or any other cryogens. The NMReady-60 family of NMR spectrometers are used by chemical professionals in all types of industries (oil & gas, chemical, pharma, biotech, food processing) as well as government and university labs.
For more information visit: http://www.nanalysis.com/
About Brisio Innovations
Brisio Innovations Inc. invests its capital in companies and opportunities which management believes are undervalued and have potential for significant appreciation. The company makes investments in both public and private markets and focuses on opportunities in a wide variety of industries excluding the resource and resource service sectors. Brisio does not invest on behalf of any third party and it does not offer investment advice.
Disclaimer for Forward-Looking Information Certain statements in this news release are forward-looking statements, which reflect the expectations of management regarding potential future investments by the Company. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Such statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements. No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits the Company will obtain from them. These forward-looking statements reflect management's current views and are based on certain expectations, estimates and assumptions which may prove to be incorrect. A number of risks and uncertainties could cause the Company's actual results to differ materially from those expressed or implied by the forward looking statements.
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