(via Thenewswire.ca)
VANCOUVER, BC / TheNewswire / March 7, 2016 - Brisio Innovations Inc. (CSE: BZI), (the "Company"), today announces that it intends to complete a non-brokered private placement financing (the "Financing") of up to 3,333,333 units (each, a "Unit") at a price of $0.075 per Unit for gross proceeds of up to $250,000. Each Unit will consist of one common share of the Company (each, a "Share") and one-half of one share purchase warrant (each, a "Warrant"). Each whole Warrant will entitle the holder thereof to purchase one additional Share at a price of $0.15 per Share for a period of one year from closing of the Financing, subject to an acceleration provision whereby, in the event that the average closing price is equal to or greater than $0.20 per Share for a period of fifteen consecutive trading days, the Company may accelerate the expiry date of the Warrants, to a date that is thirty days after the notice of completion of such period.
The proceeds of the Financing will be used for general working capital.
On behalf of the Board
Paul Andreola
President, CEO and Director
Phone: (604) 644-0072
paul@brisio.com
www.brisio.com
Disclaimer for Forward-Looking Information
Certain statements in this press release related to the proposed Financing are forward-looking statements and are prospective in nature. Forward-looking statements are not based on historical facts, but rather on current expectations and projections about future events, and are therefore subject to risks and uncertainties which could cause actual results to differ materially from the future results expressed or implied by the forward-looking statements. These statements generally can be identified by the use of forward-looking words such as "may", "should", "will", "could", "intend", "estimate", "plan", "anticipate", "expect", "believe" or "continue", or the negative thereof or similar variations. Such statements are qualified in their entirety by the inherent risks and uncertainties surrounding the Company's ability to complete the Financing and the use of proceeds thereof. Such forward-looking statements should therefore be construed in light of such factors, and the Company is not under any obligation, and expressly disclaims any intention or obligation, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
The CSE has neither approved nor disapproved the information contained herein and does not accept responsibility for the adequacy or accuracy of this release.
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