VANCOUVER, British Columbia, Nov. 28, 2017 (GLOBE NEWSWIRE) -- VANC Pharmaceuticals Inc.
(“VANC” or the “Company”) (TSX-V:VANC) (OTCQB:NUVPF) announces today that as per the news release
dated October 23, 2017 it has closed an oversubscribed non-brokered private placement for a total of 4,850,000
units (the “Units”) of the Company at a price of $0.15 per Unit for gross proceeds of approximately
CDN$727,500.00.
“It’s been a transitional year for VANC. Exceeding our goal on this private placement confirms that we have
strong support for the new vision of the Company,” commented Bob Rai, CEO of VANC. “We can now look forward to completing the
HealthTab acquisition and delivering on our commitment to support the evolving role of community pharmacists with innovative new
products and technology.”
Each Unit consists of one (1) common share (the “Common Share”) and one (1) transferrable share
purchase warrant (the “Warrant”). Each Warrant entitles the holder thereof to purchase one (1) additional
common share on or before November 27, 2022 at a price of CDN$0.20 per Common Share.
The warrants are subject to an accelerated exercise provision whereby in the event the closing price of the
Company’s common shares trades at $0.25 or higher for a period of 10 consecutive trading days, then the Company may, within five
days of such event, provide notice by way of news release that the warrants shall expire on the date that is 30 days from the date
notice is given. The securities issued are subject to a 4 month hold period that expires on March 28,
2018.
The Company paid a finder’s fee of $3,300.00 (6% on $55,000.05) and 22,000
finder’s warrants (6% on 366,667 Units). Each finder’s warrant entitles the finder to purchase one (1)
common share of the Company on or before November 27, 2022 at a price of $0.10 per common
share.
The proceeds will be used to complete technology acquisitions and toward ongoing operational and corporate
expenses.
About VANC Pharmaceuticals Inc.
VANC Pharmaceuticals aims to become the partner of choice for forward-thinking pharmacies across Canada. With an
established sales force, distribution network, and team of highly experienced professionals in pharmacy, point-of-care testing and
health technology, VANC is growing beyond generics to provide pharmacists with innovative, value-added products and services to
support their evolving business models and expanding role as front-line healthcare providers.
For more information visit www.vancpharm.com
On behalf of:
VANC Pharmaceuticals Inc.
Bob Rai
Director and CEO
Phone: 604-687-2038
Fax: 604-687-3141
Email: info@vancpharm.com
Cautionary Note Regarding Forward-looking Statements: Information in this press release that involves VANC’s
expectations, plans, intentions or strategies regarding the future are forward-looking statements that are not facts and involve a
number of risks and uncertainties. VANC generally uses words such as “outlook,” “will,” “could,” “would,” “might,” “remains,” “to
be,” “plans,” “believes,” “may,” “expects,” “intends,” “anticipates,” “estimate,” “future,” “plan,” “positioned,” “potential,”
“project,” “remain,” “scheduled,” “set to,” “subject to,” “upcoming,” and similar expressions to help identify forward-looking
statements. In this news release, forward-looking statements include our expectation to complete the financing on the terms and in
the amounts contemplated, insider participation in the financing, the use of proceeds, that our distribution channels will continue
to expand, that the financing will be sufficient to allow the Company to obtain operational profitability, or that the Company will
reach operational profitability and the Company's plans for technology acquisitions. Forward-looking statements reflect the
then-current expectations, beliefs, assumptions, estimates and forecasts of our management. Because forward-looking statements
involve known and unknown risks, uncertainties, assumptions and other factors which are difficult to predict, our actual results,
performance or achievements or the actual results or performance of the industries and markets in which we operate and intend to
operate may be materially different from those anticipated in our forward-looking statements. Forward-looking statements involve
significant uncertainties and risks, should not be read as a guarantee of future performance or results and will not necessarily be
an accurate indication of whether or not such results will be achieved. A number of factors could cause actual results to differ
materially from the results discussed in our forward-looking statements, including the ability to obtain all necessary stock
exchange and board approvals, our ability to negotiate and execute definitive documentation with subscribers and any finders and to
fulfill any conditions precedent contained therein, the general level of interest to participate in the private placements and such
other matters described in our public filings available on SEDAR at www.sedar.com. Accordingly, readers should exercise caution in
relying upon our forward-looking statements and we undertake no obligation to publicly revise such statements to reflect subsequent
events or circumstances, except as required by law.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that terms is defined in the
policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
