Completes First Tranche of Non-Brokered Private Placement
Summary
The Company is relying on the exemptions from the formal valuation and minority shareholder approval requirements of MI 61-101 as the Company is not listed on a stock exchange specified in Section 5.5(b) of MI 61-101 and neither the fair market value of the securities being issued to such insider, nor the consideration being paid by such insider exceeds $2.5 million. The Company did not file a material change report in respect of the related party transaction at least 21 days before the closing of this tranche, which the Company deems reasonable in the circumstances in order to complete this tranche in an expeditious manner.This news release does not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction. Forward-looking statements are typically, but not always, identified by words such as: believes, expects, aim, anticipates, intends, estimates, plans, may, should, could, continue, would, will, potential, scheduled, goal, target, or variations of such words and phrases and similar expressions, which, by their nature, refer to future events or results that may, could, would, might or will occur or be taken or achieved. Important risks and uncertainties that could cause actual results or events to differ materially from expectations include, but are not limited to: the Companys ability to continue as a going concern; the Companys research, development and commercialization of its products could be stopped or delayed if any third party fails to provide sufficient quantities of products or components, or fails to do so at acceptable quality levels or prices, or fails to maintain or achieve satisfactory regulatory compliance, or fails to obtain and maintain necessary intellectual property protections, as well as to navigate potential challenges from third parties asserting their own intellectual property rights; the Company expects to incur significant ongoing costs and obligations relating to its investment in infrastructure, growth, research and development, licensing, regulatory compliance and operations; and other risks and uncertainties described in its Listing Statement and other public filings. The CSE has in no way passed upon the merits of the business of the Company and has neither approved nor disapproved the contents of this news release and accepts no responsibility for the adequacy or accuracy hereof.