CALGARY,
AB, May 3, 2023 /CNW/ - Nanalysis Scientific
Corp. ("Nanalysis" or the "Company", TSXV: NSCI,
OTCQX: NSCIF, FRA: 1N1) is pleased to announce, further to its news
releases dated April 21, 2023,
April 26, 2023 and May 1, 2023, it has successfully closed the
second and final tranche (the "Second Tranche") of its
$4,128,700 non-brokered private
placement (the "Offering").
Under the Second Tranche, the Company has issued a total of
3,142,500 units ("Units") at a price of $0.60 per Unit for gross proceeds of
$1,885,500. Each Unit consists of one common share in the capital
of the Company (a "Common Share") and one Common
Share purchase warrant (a "Warrant"). Each Warrant entitles
the holder thereof to purchase one Common Share at a price of
$0.80 per Common Share (the
"Warrant Exercise Price") at any time up to
4:00 p.m. (Calgary time) on or before the date that is
one year following the closing date of the Offering. The net
proceeds of the Offering will be used by the Company for working
capital purposes.
In connection with the Second Tranche, finders acting in
connection with the Offering received fees in the aggregate amount
of $45,640.
Five directors participated in the placement for a total of
approximately $209,400. A portion of the Offering constituted a
related party transaction within the meaning of TSX Venture
Exchange Policy 5.9 and Multilateral Instrument 61-101 ("MI
61-101") as certain insiders of the Company subscribed for an
aggregate of 349,000 Units pursuant to the Second Tranche. The
Company is relying on the exemptions from the valuation and
minority shareholder approval requirements of MI 61-101 contained
in sections 5.5(b) and 5.7(1)(a) of MI 61-101, as the fair
market value of the participation in the Offering by insiders does
not exceed 25% of the market capitalization of the Company, as
determined in accordance with MI 61-101. The Company did not file
a material change report in respect of the related party
transaction at least 21 days before the closing of the Offering,
which the Company deems reasonable in the circumstances in order
to complete the Offering in an expeditious manner.
All securities issued in connection with the Offering will not
be able to be traded in Canada, or
through the facilities of the TSX Venture Exchange, for a period
of four months and one day from the date of closing. The
Offering is subject to final TSX Venture Exchange acceptance.
About Nanalysis Scientific Corp.
(TSXV: NSCI, OTCQX: NSCIF, FRA: 1N1)
Nanalysis' business is what we term "MRI and NMR for industry".
The Company develops and manufactures portable Nuclear Magnetic
Resonance (NMR) spectrometers or analyzers for laboratory and
industrial markets. The NMReady-60™ was the first full-feature
portable NMR spectrometer in a single compact enclosure requiring
no liquid helium or any other cryogens. The company has followed-up
that initial offering with new products and continues to have a
strong innovation pipeline. In 2020 Nanalysis announced the launch
of its100MHz device, the most powerful and most advanced compact
NMR device ever brought to market.
Nanalysis' devices are used in many industries (oil and gas,
chemical, mining, pharma, biotech, flavor and fragrances,
agrochemicals, law enforcement, and more) as well as numerous
government and university research labs around the world. The
Company continues to exploit new global market opportunities
independently and with partners.
In 2022 the Company acquired K'(Prime) Technologies Inc.
(KPrime), a North American sales and service company of over 40
individuals who cover scientific instrumentation for pharma, food,
chemical and oil & gas customers, as well as imaging systems
for security applications.
Additionally in 2022, the Company acquired a 43% ownership in
Quad Systems AG ("Quad Systems"), a Zurich-based Nuclear
Magnetic Resonance (NMR) company focused on high-field NMR for
pharmaceutical and other vertical markets.
Notice regarding Forward Looking
Statements and Legal Disclaimer
This news release contains certain "forward-looking
statements" within the meaning of such statements under applicable
securities law relating to the use of net proceeds of the Offering,
regulatory approval for the Offering and statements relating
to the final TSX Venture Exchange approval and other matters
ancillary or incidental to the foregoing.
All statements included herein, other than statements of
historical fact, may be forward-looking information and such
information involves various risks and uncertainties.
Forward-looking information is often, but not always, identified by
the use of words such as "anticipates", "plan", "continue",
"expect", "project", "intend", "believe", "anticipate", "estimate",
"may", "will", "potential", "proposed", "positioned" and other
similar words, or statements that certain events or conditions
"may" or "will" occur. These statements are only predictions.
Various assumptions were used in drawing the conclusions or making
the projections contained in the forward-looking statements
throughout this news release. Forward-looking statements are based
on the opinions and estimates of management at the date the
statements are made and are subject to a variety of risks and
uncertainties and other factors that could cause actual events or
results to differ materially from those projected in the
forward-looking statements. The Company is under no 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, except as expressly
required by applicable law.
Neither TSX Venture Exchange nor its Regulation Services
Provider accepts responsibility for the adequacy or accuracy of
this release.
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SOURCE Nanalysis Scientific Corp.