lscfa wrote: NEUTRISCI ANNOUNCES FINANCING
NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES.
Vancouver, British Columbia – November 23, 2022 – NeutriSci International Inc. (“NeutriSci” or the “Company”) (TSX-V: NU, OTC PINK: NRXCF, FRANKFURT: 1N9), an innovative technology company developing products for the nutraceutical industry, is pleased to announce that it intends to complete a non-brokered private placement of up to 12,500,000 units of the Company at a price of $0.02 per unit (the “Units”) for gross proceeds of up to $250,000 (the “Financing”). Each Unit will consist 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 for a period of twenty-four months from the date of issuance.
Proceeds of the Financing will be used as detailed below for operations and to cover general and administrative costs for the next six months.
Financing
Estimated use of Financing:
Accounting and administrative fees Audit fees
Legal fees (related party) Management salaries (related party) Outstanding trade payables
Payroll
TSXV filing and transfer agent fees Unallocated working capital
Total use of Financing
$250,000
15,000 50,000 10,000 30,000
100,000 15,000 15,000 15,000
$250,000
The above figures are estimates only, and there may be circumstances in which the Company is
required to reallocate proceeds of the Financing based on the operational needs of the Company,
or in the event the Financing is not completed in full. At this time, the Company does not propose
to make any payments to related parties (other than as noted above), although may in the future
elect to compensate related parties for services rendered to the Company.
The Company anticipates that some creditors of the Company may elect to accept Units of the
Company in lieu of cash. If that is the case, amounts owing would be settled in Units at a deemed
price of $0.02, and the size of the Financing would be reduced by a corresponding amount.
All securities issued in connection with the Financing will be subject to a four-month-and-one-day
statutory hold period from the date of issuance. Closing of the Financing and completion of any
debt settlement transactions remains subject to the receipt of all regulatory approvals, including the approval of the TSX Venture Exchange.