VANCOUVER, BC / ACCESSWIRE / September 10, 2021 / NeutriSci International Inc. ("NeutriSci" or the "Company") (TSXV:NU)(OTCQB:NRXCF)(FRA:1N9), an innovative technology company developing products, licencing IP, and technology for B2B partnerships and the nutraceutical industry, is pleased to announce that it has arranged a non-brokered private placement (the "Placement") and the exercise of 4,900,000 warrants, for total combined proceeds of $276,550.
The Placement, which is being completed with a principal of the Company's distribution partner in Japan, Tabletz LLC, consists of 210,333 units (the "Units") of the Company at a price of $0.15 per Unit. Each Unit consists of one common share and one common share purchase warrant, with each whole warrant entitling the holder to acquire an additional common share of the Company at a price of $0.15 for a period of eighteen months from the date of issuance. All securities issued in connection with the Placement will be subject to a four-month-and-one-day statutory hold period from the date of issuance. Closing of the Placement remains subject to the approval of the TSX Venture Exchange.
NeutriSci will use the net proceeds of the Placement and warrant exercise for expansion of production runs for Japan, B2B development and for general working capital purposes.