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SANTA FE, N.M. and MALVERN, Pa., Aug. 25, 2021 (GLOBE NEWSWIRE) -- Avisa Diagnostics Inc. (CSE:AVBT) (“Avisa” or the “Company”), a clinical-stage medical device company developing an ultra-rapid, point-of-care biomarker breath test for the detection and monitoring of virulent bacterial lung infections, today announced that it has closed the private placement announced on August 20, 2021, consisting of the issuance of 632,000 common shares of the Company (the “Common Shares”) to raise CAN$126,400 at a price of CAN$0.20 per Common Share by way of a non-brokered private placement (the “Offering”).
Avisa intends to use the net proceeds from the Offering for operations and expansion of its business and for general working capital purposes.
The Offering was made to an eligible purchaser resident in the United States. The Common Shares will not be subject to resale restrictions in Canada.
This news release shall 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 any such jurisdiction. This news release does not constitute an offer of securities for sale in the United States. The securities being offered have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and such securities may not be offered or sold within the United States absent registration under U.S. federal and state securities laws or an applicable exemption from such U.S. registration requirements.