news VANCOUVER, BC / ACCESSWIRE / January 24, 2020 / NeutriSci International Inc. ("NeutriSci" or the "Company") (TSX-V:NU, OTCQB:NRXCF, FRANKFURT:1N9) the innovator and pioneer behind neuenergy® is pleased to announce that it has closed on the first tranche of its non-brokered private placement (the "Placement") announced on January 16, 2020, in which it raised proceeds of $655,000.
This tranche of the Placement consisted of 13,100,000 units (the "Units") of the Company at a price of $0.05 per Unit. Each Unit consists of one common share and one common share purchase warrant, with each warrant entitling the holder to acquire an additional common share of the Company at a price of $0.05 until July 24, 2021. All securities issued in connection with this tranche of the Placement are subject to a hold period expiring May 25, 2020.
The Company intends to close a smaller final tranche of the Placement in the first part of February.
As previously announced, NeutriSci will use the net proceeds of the Placement for production runs and launch of the Company's Dablets™ and Zenstix™ tabs in California, and for general working capital purposes.
On Behalf of the Board of Directors of
NEUTRISCI INTERNATIONAL INC.