NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
VANCOUVER, British Columbia, Feb. 09, 2024 (GLOBE NEWSWIRE) -- HYTN Innovations Inc. (the “Company” or “HYTN”) (CSE: HYTN) is pleased to announce a non-brokered private placement of up to 13,333,334 units of the Company (“Units”) at a price of $0.075 per Unit (the “Offering”), for aggregate gross proceeds of up to $1,000,000.05.
Each Unit will be composed of one (1) common share in the capital of the Company (a “Share”) and one (1) common share purchase warrant of the Company (a “Warrant”). Each Warrant will entitle the holder thereof to acquire one (1) additional Share (a “Warrant Share”) at a price of $0.25 per Warrant Share for a period of 24 months from the closing date of the Offering. The Company intends to use the net proceeds raised from the Offering for general working capital purposes.
All securities issued in the Offering will be subject to a statutory four month and one day hold period. Closing of the Offering is subject to receipt of all regulatory approvals, including the approval of the Canadian Securities Exchange. The Offering is expected to close on or about March 1, 2024.
The securities being offered pursuant to the Offering have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons in the absence of U.S. registration or an applicable exemption from the U.S. registration requirements. This news release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in the United States or in any other jurisdiction in which such offer, solicitation or sale would be unlawful.
About HYTN Innovations Inc.
HYTN formulates, manufactures, markets, and sells premium products that contain psychoactive and psychotropic compounds. HYTN's mission is to become the top provider of these products in all federally regulated markets. To achieve this, the company focuses on identifying market opportunities and quickly bringing its innovative products to market through its elevated development platform.
Please visit www.hytn.ca for more information or contact:
Elliot McKerr
Chief Executive Officer
1.866.590.9289
HYTN Investor Relations
1.866.590.9289
investments@hytn.life
Forward-Looking Statements
This news release contains forward-looking statements and forward-looking information (collectively, “forward-looking statements”) within the meaning of applicable securities laws. Any statements that are contained in this news release that are not statements of historical fact may be deemed to be forward-looking statements. Forward-looking statements are often identified by terms such as “may”, “should”, “anticipate”, “will”, “estimates”, “believes”, “intends”, “expects” and similar expressions which are intended to identify forward-looking statements. More particularly and without limitation, this news release contains forward-looking statements concerning the Offering, the expected closing date of the Offering, the intended use of proceeds, and the receipt of all necessary regulatory and other approvals necessary in connection with the Offering. Forward-looking statements are inherently uncertain, and the actual performance may be affected by a number of material factors, assumptions and expectations, many of which are beyond the control of the Company. Readers are cautioned that assumptions used in the preparation of any forward-looking statements may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted as a result of numerous known and unknown risks, uncertainties and other factors, many of which are beyond the control of the Company. Readers are further cautioned not to place undue reliance on any forward-looking statements, as such information, although considered reasonable by the respective management of the Company at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. The forward-looking statements contained in this news release are made as of the date of this news release, and are expressly qualified by the foregoing cautionary statement. Except as expressly required by securities law, the Company undertakes no obligation to update publicly or to revise any of the included forward looking statements, whether as a result of new information, future events or otherwise.
The Canadian Securities Exchange (CSE) has not reviewed, approved, or disapproved the contents of this press release.
