VANCOUVER, BRITISH COLUMBIA--(Marketwire - July 31, 2012) -
NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
Calyx Bio-Ventures Inc. ("Calyx" or the "Company") (TSX VENTURE:CYX) announces the closing of the first tranche of a brokered private placement originally announced on May 9, 2012, of 1,110,000 units of the Company (the "Units") at a price of $0.25 per Unit for total gross proceeds of $277,500 through Canaccord Genuity Corp. (the "Agent').
Each Unit comprises one common share of the Company and one half of one common share purchase warrant (each whole warrant, a "Warrant"). Each Warrant is exercisable into one common share of the Company for a period of 24 months from closing at an exercise price of $0.40.
The Company paid the Agent a cash fee equal to 7% of the gross proceeds raised from the brokered private placement and issued to the Agent warrants (the "Agent's Warrants") equal to 10% of the Units sold. Each Agent's Warrant is exercisable into one common share of the Company for a period of 24 months at an exercise price of $0.40. In addition, the Company issued 37,000 Units as a corporate finance fee to the Agent.
The funds raised from the issuance of the Units will be for general working capital purposes.
The securities issued will be subject to a standard four month hold period which will expire December 1, 2012.
Calyx Bio-Ventures Inc. trades on the TSX Venture Exchange under the symbol "CYX" and owns approximately one third of an operating subsidiary called Agrisoma Biosciences Inc. Agrisoma is a private agricultural biotechnology company that uses a proprietary Engineered Trait Loci (ETL) technology licensed from Calyx to commercialize a suite of industry-leading oil quality and crop improvement traits for use in energy feedstock crops. For further information about Calyx, its technology, collaborations and partnerships, please visit: www.calyxbio.com
ON BEHALF OF THE BOARD
CALYX BIO-VENTURES INC.
W. Hugh Notman, President & CEO
Forward-Looking Statements: This document contains certain forward-looking statements concerning Calyx, as well as other expectations, plans, goals, objectives, information or statements about future events, conditions, results of operations or performance that may constitute "forward-looking statements" or "forward-looking information" under applicable securities legislation, including without limitation, statements about the amount and use of proceeds from the private placement financings, and the terms and completion of the financings. Such statements or information involve substantial known and unknown risks and uncertainties, certain of which are beyond Calyx's control including general business, economic, competitive, political and social uncertainties; the delay or failure to receive regulatory approvals, the characteristics and viability for bio-fuel development, the willingness of third parties to conclude agreements with Calyx on terms that are acceptable to management of Calyx, the need for additional financing, and the volatility of our common share price and volume.
Such forward-looking statements or information are based on a number of assumptions which may prove to be incorrect. In addition to other assumptions identified in this news release, assumptions have been made regarding, among other things, commodity prices, operating conditions, capital and other expenditures, and project development activities.
Although Calyx believes that the expectations reflected in such forward-looking statements or information are reasonable, undue reliance should not be placed on forward-looking statements because Calyx can give no assurance that such expectations will prove to be correct. Forward-looking statements or information are based on current expectations, estimates and projections that involve a number of risks and uncertainties which could cause actual results to differ materially from those anticipated by Calyx and described in the forward-looking statements or information.
The forward-looking statements or information contained in this news release are made as of the date hereof and Calyx undertakes no obligation to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise unless so required by applicable securities laws or the TSX Venture Exchange. The forward-looking statements or information contained in this news release are expressly qualified by this cautionary statement.
This press release shall not constitute an offer to sell, nor the solicitation of an offer to buy, any securities in the Unites States, nor shall there be any sale of securities mentioned in this press release in any state in the United States in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state.
Neither the 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.