TORONTO, ONTARIO / ACCESSWIRE / December 23, 2014 / The Canadian Bioceutical Corporation ("BCC") (TSX VENTURE: BCC.V) announces today that it has received the Final Approval of the TSX Venture Exchange and has closed, effective today, the recently announced private placement financing arrangement to raise $250,000 through the sale of 1,923,077 common shares at a price of $0.13 per common share all as more particularly described in BCC's news release of December 19, 2014 which was filed under its company profile on SEDAR.
All securities issued are subject to a minimum hold period of four (4) months from the date of the closing of the private placement.
The gross proceeds of this placement will be used as general working capital and to further develop the BCC business model.
Including the common shares issued in the above-mentioned private placement, BCC currently has 35,089,034 issued and outstanding common shares, 15,000,000 common share purchase warrants and 3,198,000 incentive stock options.
About The Canadian Bioceutical Corporation
BCC, formerly Allegiance Equity Corporation, is an Ontario corporation that, for over two decades has been developing unique standardized mass-market nutraceutical and bioceutical products for the treatment of common ailments where present pharmaceutical treatments and Over-the-Counter (OTC) products fail to meet the needs of patients. BCC has targeted markets having clearly identified product deficiencies and dissatisfied consumers afflicted with a variety of medical conditions. BCC obtains regulatory approval and patents for these unique compounds and formulations and may produce and distribute or license its products for royalty revenues.
BCC's principal brands are CinG-X(TM) and Relieva(TM).
Cautionary Statement Regarding Forward-Looking Information
This news release includes certain "forward-looking statements" under applicable Canadian securities legislation that are not historical facts. Forward-looking statements involve risks, uncertainties, and other factors that could cause actual results, performance, prospects, and opportunities to differ materially from those expressed or implied by such forward-looking statements. Forward-looking statements in this news release include, but are not limited to, the Transaction and BCC's objectives and intentions. Forward-looking statements are necessarily based on a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties and other factors which may cause actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include, but are not limited to: general business, economic and social uncertainties; litigation, legislative, environmental and other judicial, regulatory, political and competitive developments; delay or failure to receive board, shareholder or regulatory approvals; those additional risks set out in BCC's public documents filed on SEDAR at www.sedar.com; and other matters discussed in this news release. Although BCC believes that the assumptions and factors used in preparing the forward-looking statements are reasonable, undue reliance should not be placed on these statements, which only apply as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. Except where required by law, BCC disclaims any intention or obligation to update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the Policies of the Exchange) accepts responsibility of the adequacy or accuracy of this release.
For further information please contact:
Scott Boyes, President and CEO
scott@canadianbioceutical.com
(416) 223-6874
SOURCE: The Canadian Bioceutical Corporation