RE:Happy New Year Yeah, right.....
NEUTRISCI ANNOUNCES CLOSING OF FINANCING
Vancouver, British Columbia – December 30, 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 has completed the non-brokered private placement (the “Financing”) previously announced on November 23, 2022, in which it raised gross proceeds of $196,774.40.
The Financing consisted of 9,838,720 units (the “Units”) of the Company at a price of $0.02 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 December 30, 2024.
All of the securities issued in the Financing have a hold period of four months and one day, expiring May 1, 2023. Proceeds of the Financing will be used as detailed below for operations and to cover general and administrative costs for the next six months.
Estimated use of Financing:*
Accounting and administrative fees Audit fees
Legal fees**
Management salaries** Outstanding trade payables Payroll
TSXV filing and transfer agent fees Unallocated working capital
Gross Proceeds of Financing
15,000 50,000 10,000 15,000 61,774 15,000 15,000 15,000
$196,774
*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.
**Except for management salaries, and legal fees owing to a law firm of which a director of the
Company is a partner, the Company does not anticipate the proceeds of the Financing being used
to make payments to non-arms’ length parties.
The Company did not pay any finders fees in connection with the Financing and does not anticipate utilizing any of the proceeds from the Financing for investor relations activities.