TORONTO, Jan. 30, 2013 /CNW/ - BIOSENTA INC. (CNSX: ZRO) (the "Company") is pleased to announce a private placement of up to 4,000,000 units at a price of $0.15 per unit for gross proceeds of up to $600,000 (the "Offering"). Each unit consists of one Class A Share and one-half of one Class A Share purchase warrant. Each whole warrant will entitle the holder to purchase one additional Class A Share in the capital of the Corporation (a "Warrant Share") at an exercise price of $0.20 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. The Company may pay a finder's fee consisting of 8% cash and warrants to acquire Class A Shares at $0.20 per Class A Share exercisable during the period up to 18 months following closing of the Offering. The number of Warrants to be issued will equal to 8% of the number Units sold in the Offering. All securities issued will be subject to a four-month hold period. The proceeds will be used for working capital purposes and in furtherance of the Company's activities in connection with development of product lines, including development of its pilot plant and research facility Parry Sound, Ontario.
About BIOSENTA Inc.
BIOSENTA Inc.'s line of retail anti-microbial products will effectively kill mold, bacteria and fungi on contact and prevent re-growth. These products address the demand created by the mounting health and environmental concerns. Mold 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 mold. 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 mold 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.