VANCOUVER, BRITISH COLUMBIA--(Marketwired - Sept. 18, 2013) -
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 that, effective today, it closed the non-brokered private placement first announced on September 4, 2013 and further increased on September 11, 2013 (the "Private Placement"). The Private Placement consisted of the sale of 3,223,333 units (the "Units") at a price of $0.15 per unit for gross proceeds of $483,500.
Each Unit comprises one common share of the Company and 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 18 months from closing at an exercise price of $0.35.
In connection with the Private Placement, the Company paid finders fees of $38,680 and issued 257,866 finders' warrants (the "Finders' Warrants"). Each Finders' Warrant is exercisable into one common share of the Company for a period of 18 months from closing at an exercise price of $0.35.
The funds raised will be used for general working capital purposes. The securities issued will be subject to a standard four month hold period which will expire January 19, 2014.
The Company is also pleased to announce that Kevin Rathbun has been appointed an executive officer of the Company. Kevin has been with the Company since early 2012, and his appointment is reflective of his increased involvement in operations.
Calyx Bio-Ventures Inc. (TSX VENTURE:CYX) is an agricultural technology company focused on renewable fuels including biojet and biodiesel. Agrisoma Biosciences Inc., a company in which Calyx is the largest shareholder, is producing a new proprietary non-food energy feedstock crop, Resonance® carinata, which yields oil that can be refined into fuels that work in existing engines as a 100 percent petroleum substitute. From seed to sky, fuels produced from Resonance® carinata substantially reduce carbon and other harmful emissions, and help to reduce global petroleum dependence. For further information about Calyx, please visit www.calyxbio.com. Resonance® is a registered trademark of Agrisoma Biosciences Inc.
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, or performance that may constitute "forward-looking statements" or "forward-looking information" under applicable securities legislation. Such statements or information involve substantial known and unknown risks and uncertainties, certain of which are beyond Calyx's control, including the completion of the Private Placement and the delay or failure to receive regulatory approvals.,
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, timing and completion of the Private Placement, the actual use of proceeds, and the timing of receipt of regulatory approvals.
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 United 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.