Intrinsic4D
TSX VENTURE : IFD

May 18, 2016 09:57 ET

Intrinsic4D Completes Second Tranche of Convertible Debenture Financing

TORONTO, ONTARIO--(Marketwired - May 18, 2016) -

NOT FOR DISSEMINATION IN THE U.S. OR FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES

Intrinsic4D Inc. ("Intrinsic4D") (TSX VENTURE:IFD) announces that it has closed a second tranche of its previously announced financing (the "Offering") of secured convertible debentures (the "Debentures") for gross proceeds of $1,414,000 to be used for working capital and general corporate purposes. The financing ($1,224,000 of which was brokered) was led by Gravitas Securities Inc. (formerly Portfolio Strategies Securities Inc.) and Echelon Wealth Partners Inc. (formerly Euro Pacific Canada Inc.) (the "Agents").

The Debentures were priced at $1,000 per debenture and will have a maturity date of 60 months from the date of issuance and pay interest at the rate of 10.5% per annum calculated and paid quarterly in arrears. The Debentures are secured by all of the present and after acquired property of Intrinsic4D. Principal may be converted at any time in whole or in part at the holder's option into voting common shares of Intrinsic4D (each a "Common Share" and collectively the "Common Shares") at a deemed conversion price of $0.40 per Common Share (the "Conversion Price"). The holders of the Debentures were also issued 200 warrants (each a "Warrant" and collectively the "Warrants") of Intrinsic4D for each $1,000 of Debentures purchased. Each Warrant is exercisable into one (1) Common Share at a price of $0.40 for a period of 24 months from the closing of the Offering.

In the event the Common Shares, currently traded on the TSX Venture Exchange (the "TSXV"), achieve a volume weighted average price of at least $0.80 for a period of 20 consecutive trading days (the "Acceleration Period"), the Debentures will automatically convert into Common Shares of Intrinsic4D at the Conversion Price on the date that is 30 business days from the successful completion of the Acceleration Period.

In connection with this second tranche of the Offering, the Agents are entitled to a cash commission of $85,680 and broker warrants to purchase 214,200 Common Shares at $0.40 until May 17, 2018.

All securities issued in connection with this second tranche of the Offering will be subject to a statutory hold period until September 18, 2016 in accordance with applicable securities legislation.

The Agents are working towards the closing of a third tranche of the Offering.

About Intrinsic4D Inc.

Intrinsic4D, through its Authentic brand, is the developer of the patented and FDA-cleared transformative software-as-a-service medical platform servicing the medical-legal industry. Through its patented and disruptive Stenosis Severity Mapping (SSM) Cardio solution, it aims to reduce the US$13 billion of unnecessary cardiac catheterizations performed annually, which are attributed to false positive reads of diagnostic tests for evaluating coronary artery disease.

Disclaimer for Forward-Looking Information

Certain statements contained in this press release constitute forward-looking information within the meaning of applicable securities laws. Forward-looking information may relate to the Corporation's future outlook and anticipated events or results. Particularly, statements regarding future results, performance, achievements and prospects or opportunities for the Corporation are forward looking statements. Some of the specific forward looking statements in this press release include, but are not limited to, the approval of the TSXV and the completion of the third tranche of the Offering. Although the forward-looking statements contained in this press release are based upon assumptions that management of the Corporation believes are reasonable based on information currently available to management, there can be no assurance that actual results will be consistent with these forward-looking statements. Forward-looking statements necessarily involve known and unknown risks and uncertainties, including the likelihood additional investors subscribe for Debentures under the Offering, many of which are beyond the Corporation's control, which may cause actual results to differ materially from those expressed or implied by such forward-looking statements. The forward-looking statements made in this press release relate only to events or information as of the date hereof. Except as required by applicable law, the Corporation undertakes no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise, after the date on which the statements are made or to reflect the occurrence of unanticipated events.

Neither TSX nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.

The securities referred to in this news release have not been and will not be registered under the United States Securities Act of 1933, as amended, or any applicable state securities laws and may not be offered or sold in the United States absent such registration or an applicable exemption from such registration requirements. This news release shall not constitute an offer to sell or the solicitation of an offer to buy securities in any jurisdiction. Any public offering of securities in the United States must be made by means of a prospectus containing detailed information about the company and management, as well as financial statements.

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