MONTREAL, QUÉBEC--(Marketwire - March 21, 2012) - Biotonix (2010) Inc. ("Biotonix") (TSX VENTURE:BTX) is pleased to announce it has completed a first tranche of its previously-announced private placement of up to $300,000 by issuing a total 2,799,997 units at a price of $0.075 per unit for aggregate gross proceeds of $210,000. Each unit consists of one common share of Biotonix (a "Common Share") and one half of one common share purchase warrant (a "Warrant"). Each whole Warrant entitles the holder thereof to purchase one Common Share at a price of $0.115 until March 21, 2017. The Common Shares and the Warrants issued pursuant to this private placement are subject to a hold period of 4 months expiring on July 22, 2012.
Biotonix will use the proceeds raised from the issue of the units to finance the costs of the proposed reverse takeover of Biotonix by Atmanco.
The closing of the second tranche of the private placement is expected shortly.
Biotonix (TSX VENTURE:BTX) offers innovative health solutions for posture correction and fitness using a web-based imaging software technology. For more information please visit www.biotonix.com.
BIOTONIX'S FORWARD-LOOKING STATEMENTS
This press release contains forward-looking statements that reflect the Company's current expectation regarding future events. There is a risk that expectations and forward looking statements will not prove to be accurate. Readers are cautioned not to place undue reliance on these forward looking statements as they involve risks and uncertainties, which could make actual results differ materially from those projected herein and depend on a number of factors including, but not limited to, no history of profitability, future financing, intellectual property and patents, key personnel, competitive marketplace, technology obsolescence, share price volatility and other risks detailed from time to time in the Company's filings. While Biotonix anticipates that subsequent events and developments may cause its views to change, Biotonix specifically disclaims any obligation to update these forward looking statements, unless obligated to do so by applicable securities laws.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.