Biotonix (2010) Inc.
TSX VENTURE : BTX

Biotonix (2010) Inc.

April 02, 2012 09:00 ET

Biotonix Closes Second Tranche of Private Placement

MONTREAL, QUEBEC--(Marketwire - April 2, 2012) - Biotonix (2010) Inc. ("Biotonix") (TSX VENTURE:BTX) is pleased to announce it has completed the second and final tranche of its previously-announced private placement by issuing 1,199,997 additional units at a price of $0.075 per unit for gross proceeds of $90,000. 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 30, 2017. The Common Shares and the Warrants issued pursuant to this private placement are subject to a hold period of 4 months expiring on August 1, 2012.

Biotonix has raised a total of $300,000 under this financing. It will use such proceeds to finance the cost of the proposed reverse takeover of Biotonix by 9130-4519 Québec Inc. ("Atman").

Atman is also proceeding with a debt financing to fund the cost of the reverse takeover, pursuant to which it has raised $425,000 to date. The loans bear interest at an annual rate of 12 % and will be repaid at the closing of the reverse takeover by the issuance of units of Biotonix at a price of $0.15 per unit, each unit being comprised of one common share of Biotonix, after taking into account the proposed consolidation of shares of Biotonix on the basis of one new share for each two shares outstanding, and one half of one warrant. Each full warrant will entitle its holder to acquire one consolidated common share of Biotonix at a price of $0.23 per share for a period of 5 years following the closing of the reverse takeover. The conversion of the loans to Atman into units of Biotonix is part of the reverse takeover and is subject to the approval of the relevant regulatory authorities.

BIOTONIX PROFILE

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.

ATMAN PROFILE

Atman provides 6th generation psychometric testing solutions to enterprises seeking to maximize success in employee recruitment, job allocation and team building by scientifically matching each individual's character and talents to specific company needs. For more information please visit www.atmanco.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.

Contact Information