Bioasis Technologies Inc. V.BTI

BTI:TSXV: Announces $200,000 Non-Brokered Private Placement

[ColwellCapIR]

Bioasis Announces $200,000 Non-Brokered Private Placement

 

GUILFORD, CONN., BIOASIS TECHNOLOGIES INC. (OTCQB:BIOAF; TSX.V:BTI), a pre-clinical, research-stage biopharmaceutical company developing its proprietary xB³ ™ platform technology for the delivery of therapeutics across the blood-brain barrier (“BBB”) and the treatment of central nervous system (“CNS”) disorders in areas of high unmet medical need, including brain cancers and neurodegenerative diseases, today announced that it has completed a non-brokered private placement of 400,000 common shares to a Canadian family office at a price of $0.50 per share for gross proceeds of $200,000.
 
The common shares issued pursuant to the private placement are subject to a four month hold period in accordance with applicable securities laws.

On behalf of the Board of Directors of Bioasis Technologies Inc.

Deborah Rathjen, Ph.D., Director and President & Chief Executive Officer
[e-mail]
[phone]

About Bioasis
Bioasis Technologies Inc. is a biopharmaceutical company developing the xB³ ™ platform, a proprietary technology for the delivery of therapeutics across the blood brain barrier and the treatment of CNS disorders in areas of high unmet medical need, including brain cancers and neurodegenerative diseases. The delivery of therapeutics across the blood brain barrier represents the final frontier in treating neurological disorders. The in-house development programs at Bioasis are designed to develop symptomatic and disease-modifying treatments for brain-related diseases and disorders. The company maintains headquarters in Guilford, Conn., United States. Bioasis trades on the TSX Venture Exchange under the symbol “BTI” and on the OTCQB under the symbol “BIOAF.” For more information about the company, please visit www.bioasis.us.

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.

[Finallytherock]

any reason? it's not a lot of money? paying a bill?

[MBT123]

Part-time CEO brokers another head scratching finacing..Just keeping her cell Bill paid for another few months or maybe to pay off a tab at her local beach front watering hole..Does Denali and ther 5b market cap still compare to us raising a whopping $200k? Asking for a friend 

[zwerp2000]

I think you are misreading. Someone wanted to buy a chunk of shares and was willing to pay above market for them. Someone was anxious to get in

[chrispi]

If some shareholders are so jaded from the past and just plain dumb to think a family office buying (a starter position?) shares in a relatively "thinly" traded stock at a price 25% ABOVE THE CURRENT MARKET PRICE is not a good thing, then Bioasis could cure brain cancer and they still would not be happy.

[greaterfoolFred]

Yea, but maybe it would have been clever to ask them to buy up to $.48 in the market for a certain period of time with the offer of a guaranteed placement if they could not get them all.

[chrispi]

I don't think that would be clever at all. What happens if they get $170k worth of shares in the open market. Does the company then do a placement for $30k ? How long should they be allowed to buy the shares in the open market before a time limit is up and then doing the remainder as a placement? The way they did it is the best solution for all.

[greaterfoolFred]

1. Yes 2. How about a week? Might not be clever, but it wouldn't be foolish.

[craighenry]

I may not agree with you on everything chrispi but you are spot on here. This definitely positive.

[craighenry]

Nice try bozo. Only a slow dimwitted individual would think that. Instead you should be asking; Why would someone want to buy 400k shares at .50 cents when they could get them on the open market for the low .40s?? You think they are looking for a 5 or 10% return?? No way bozo. This individual knew exactly what was coming with bioasis and wanted in. Period! You are one slimy pathetic little boy.

[chrispi]

Why would someone want to buy 400k shares at .50 cents when they could get them on the open market for the low .40s?? You think they are looking for a 5 or 10% return?? No way bozo. This individual knew exactly what was coming with bioasis and wanted in.   Excellent detective work craighenry :)

[beenthere]

Hey Christi, same goes for you! "This individual knew exactly what was coming with Bioasis and wanted in. " Sounds like craighenry... Someone buying on inside information. Sure sounds that way to me. Like craighenry, maybe you would like to reword your post?

[zwerp2000]

I'm sure this individual and the company wouldn't be that naive and stupid to do this with the possibility of insider trading. It may be quite simply this individual wanted a big position ASAP, didn't want to buy on the open market so as to drive the price way up since this company has no volume and is quite illiquid and was willing to pay a premium. 

[prophetoffacts]

This post has been removed in accordance with Community Policy

[narmac]

This $200,000.00 deal is most likely a follow up from the virtual investment conference previous....possibly a verbal commitment sort of thingy during our presentations,,,and when we were in the .30s,,DrDR possibly would not commit to a lower PP at the time,,,,speculation of course,,but possible...,more investing entities coming on board  hopefully,,,,,,and that amount of investment pales in

[fishtail]

>> This $200,000.00 deal is most likely a follow up from the virtual investment conference previou I agree and maybe someone informed with a personal connection to an area targeted by BTIs technologies.  There are lots of investors in these biotechs who really understand the scientific possibilities, and who also like to focus where they have a personal experience.   

[chrispi]

Someone buying on inside information. Sure sounds that way to me. OMG how pathetic has this board become and some posters completely void of intelligence? I have no idea who this family office is nor what they "liked" about the company in order for them to buy shares. Is there not enough information in the public domain for someone to conduct sufficient due diligence? Are you

[beenthere]

Not me! I just repeated what you posted. If you feel there was no such thing than why did you say what you did? Retract what you said.

[beenthere]

Well put craighenry! " This individual knew exactly what was coming with Bioasis and wanted in. Period!" SMELLS  LIKE INSIDE TRADING TO ME!! Would you like to rephrase your post,craighenry?  

[craighenry]

Nah. Beenthere We dont have to rephrase our posts. Not everyone plays the victim and believes conspiracies as you do. This buyer could have public access to data or trials that are out there...( which you are probably too lazy to research yourself) Liked what they saw and put the hammer down for 200K!! No one will ever know the real reason......but I like to speculate. That good enough for ya'

[beenthere]

The way I read your post it does not sound that way. Just admit what you posted was incorrect and you did not mean it in that way. Nothing to do with what we may know or research YOU said ... " This individual KNEW EXACTLY WHAT WAS COMING ....

[zwerp2000]

You bring a lot to this board beenthere

[frohlir944]

He's always been a toxic hater.  Never takes responsibility for his actions, wants the whole world to feel sorry for him and absolutely doesn't understand even a simple concept like that if you run a lemonade stand and put up a sign that says "really shitty lemonade", that people probably won't buy any.  Yet he's willing to constantly say it about his investment

[beenthere]

Sorry frohlir944 but I disagree complelely! I never talked down my investment in BTI. I might have been upset with an issue here and than there but no more than any other investor here. What you are thinking about was the constant back and forth between me and JD. Once he left the board it has become a complelely site and as a result of him not being here constantly stirring the pot and putting

[barsax]

any reason? it's not a lot of money? paying a bill? ...no it's not for bill payment.  BTI had sufficient cash on the books at year end.  Don't forget, they just received >$680K on December 23(?) for warrant exercise, plus they had around $2M as of November 30th.  It's a bit of head scratcher.  Monday, they take part in another virtual conference (they're