CALGARY, June 13, 2019 /PRNewswire/ - Nanalysis Scientific Corp. (TSXV: NSCI), is pleased to announce it has closed a non-brokered private placement with the Chairman of Factors Group.
The Chairman of Factors Group stated "We are very pleased we are investing in Nanalysis Scientific. Factors Group is committed to producing the highest quality products possible and seeing worldwide improvement of testing in all areas of product quality. The bench-top NMR technology that Nanalysis produces will provide our company with an invaluable tool to confirm source botanical identity and to monitor key active concentrations as products move through the production system and indeed is distributed to our customers, ensuring highest possible safety, potency, purity, and quality. We will be working with Nanalysis and other partners to develop software and reference standard databases that will assist regulatory authorities make progress with their mandates of ensuring nutraceutical authentication, and we will be promoting Nanalysis' products throughout our global network."
This offering is in addition to the concurrent non-brokered unit private placement for gross proceeds of approximately $5,000,000 that was disclosed in the Company's Filing Statement dated May 24, 2019 and closed on June 4, 2019. Pursuant to this Offering, the Company issued 2,500,000 units ("Units") at $0.60 per Unit for a total gross proceeds of $1,500,000. Each Unit consists of one common share of Nanalysis ("Common Share") and one half of one Common Share purchase warrant ("Warrant"). Each whole Warrant will entitle the holder to acquire one additional Common Share for a period of two years following the date of issuance of the Warrant.
The Company will use the net proceeds of the offering for SG&A associated with the global expansion of the Nanalysis' sales organization and distribution network and for working capital.
All securities issued pursuant to the Offering are subject to a statutory hold period of four months and one day from the date of issuance.
About Factors Group
Factors Group has been a producer of the highest quality Natural Health Products and dietary supplements for over 50 years. Factors Group operates across nine locations in North America: housing offices, manufacturing and production facilities, laboratories, distribution centers, and extensive warehouses. The company also grows on its own pristine farm land. Factors' head office is in Coquitlam, BC with a US office in Monroe, Washington. The company's mission is to enhance the well-being of its customers through research, development, and delivery of effective nutritional supplements and other health-building products. http://factorsgroup.com
About Nanalysis Scientific
Nanalysis (TSXV:NSCI) has been in business for 10 years developing/manufacturing portable Nuclear Magnetic Resonance (NMR) spectrometers for the laboratory instrumentation market. Nanalysis products are used by industry (oil & gas, chemical, pharma, biotech, food science, atomic agencies) and are category leaders in teaching/research. http://www.nanalysis.com/investor-relations
Nanalysis Scientific Corp. seeks safe harbor for any forward-looking statements in this release. Investors should not rely on information in this release to make any investment decisions but rather should consult an independent financial advisor.
SOURCE Nanalysis Scientific Corp.