Biosenta Inc.
CNSX : ZRO

Biosenta Inc.

November 02, 2015 15:21 ET

Biosenta Inc. to Borrow Between $250,000 and $300,000

TORONTO, ONTARIO--(Marketwired - Nov. 2, 2015) - Biosenta Inc. (CSE:ZRO) (the "Corporation") announces that it plans to borrower between approximately $250,000 and $300,000 from 1943391 Ontario Ltd. (the "Lender"), a corporation controlled by Paul Kalata. As of October 30, 2015, $80,000 has been advanced to the Corporation, with the remainder of the loan expected to be advanced by November 16, 2015. The Corporation issued a grid note to the Lender for the amounts to be borrowed (the "Note"). The Note is secured by all of the assets of the Corporation. The Lender is at arm's length to the Corporation.

The borrowed proceeds are expected to be used for general corporate purposes, including to fund the operations of the Corporation while it submits a Proposal under the Bankruptcy and Insolvency Act to its creditors.

The Corporation also recently relocated its head office to premises leased by a person related to the Lender. Discussions with its former landlord are under way.

About the Corporation

The Corporation develops and manufactures a range of chemical compounds for household and industrial applications using advanced nanotechnology.

The household disinfectants and cleaners possess similar levels of efficacy as traditional disinfectants with significantly lower concentrations of active ingredients resulting in lower toxicity. These disinfectants and cleaners will kill 100% of potentially deadly mold, fungi, bacteria and viruses on contact and prevent re-growth. These disinfectants are very safe due to the very low toxicity.

The industrial compounds are embedded to protect various materials, including drywall, plastics and resins, from microbe formation. These compounds remain active for decades and protect the drywall of buildings, objects such as resin furniture, and carpet which contain plastic or resin, as well as textiles and paper from mold, fungi, bacteria and viruses.

Both the household and industrial products are environmentally safe and biodegradable.

Disclaimer

The CSE has in no way passed upon the contents of this press release and further, has neither approved nor disapproved of the contents of this press release. Neither the CSE nor its Regulation Services Provider (as such term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.

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