TORONTO, ONTARIO--(Marketwired - Jan. 22, 2014) - BIOSENTA INC. (CNSX:ZRO) (the "Company") is pleased to announce a private placement of up to 7,500,000 units at a price of $0.15 per unit for gross proceeds of up to $1,125,000 (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. 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.
The Company also announces that it has granted a total of 950,000 stock options to purchase Class A Shares of the Company to employees of the Company. The stock options have an exercise price of $0.20 per share, they vest one-third immediately and one-third on each of the first and second anniversaries of the grant date and they have a term of 5 years. The stock options were granted under the Company's stock option plan.
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.
On behalf of the Board of Directors of BIOSENTA Inc.
Bruce Lewis, CEO & President
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.