October 31, 2016 08:00 ET
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Oct. 31, 2016) - Calyx Bio-Ventures Inc. (TSX VENTURE:CYX) ("Calyx" or the "Company") is pleased to announce that it has completed a non-brokered private placement of 5,715,856 units (each, a "Unit"), at a price of $0.07 per Unit, for gross proceeds of $400,110. Each Unit consists one common share of the Company, and one-half-of-one common share purchase warrant (each whole warrant, a "Warrant"). Each Warrant is exercisable to acquire one additional common share of the Company at a price of $0.15 per share for a period of twenty-four months.
All securities issued in connection with the private placement are subject to a four-month-and-one-day statutory hold period expiring on March 1, 2017.
The Company is also pleased to announce that as a result of the exercise of 2,400,000 incentive stock options, the Company has raised a further $120,000. Proceeds from the private placement and the exercise of stock options will be utilized by the Company to support operations and ongoing business development.
Calyx's wholly-owned subsidiary, Cannigistics Agri-Solutions Corp, is a software development company that has created a software platform tailored to advanced indoor agriculture. The Cannigistics software platform is designed to enhance the efficiency and effectiveness of indoor agricultural operations, and positions Cannigistics to be the industry leader in agri-software solutions by providing businesses with advanced controls over all aspects of their operations. Additionally, Calyx owns a portfolio of proprietary intellectual property with applications in crop enhancement.
For further information about Calyx, please visit www.calyxbio.com.
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.
Roger FordePresident and Chief Executive OfficerCalyx Bio-Ventures Inc.email@example.com
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