BZI cashed up for new investments and next chapter...
Brisio Innovations Closes Private Placement
(via Thenewswire.ca)
VANCOUVER, BC / TheNewswire / March 24, 2016 - Brisio Innovations Inc. (CSE: BZI), (the "Company"), today announces that it has closed its private placement financing by issuing 3,776,666 units (each, a "Unit") at a price of $0.075 per Unit for gross proceeds of up to $283,250. This represents an oversubscription of the previously announced private placement financing.
Each Unit consists of 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 $0.15 per Share for a period of one year from closing of the Financing, subject to an acceleration provision whereby, in the event that the average closing price is equal to or greater than $0.20 per Share for a period of fifteen 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 will be subject to a hold period expiring on July 24, 2016 pursuant to applicable Canadian securities laws.
The proceeds of the financing will be used for general working capital.
On behalf of the Board
Paul Andreola
President, CEO and Director
Phone: (604) 644-0072
paul@brisio.com
www.brisio.com
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