Gemoscan Canada Announces Non-Brokered Private Placement
December 18 2012 - 8:00AM
Gemoscan Canada, Inc. ("
Gemoscan" or the
"
Corporation") – (TSX-V:GES) announced today that
it intends to proceed with a non-brokered private placement
offering of up to 1,600,000 units ("
Units") at a
subscription price of C$0.125 per Unit for gross proceeds of up to
C$200,000 (the "
Private Placement"). Each Unit
will consist of one Class A share ("
Common Share")
and one half of one Class A share purchase warrant
("
Warrant"). Each whole Warrant will entitle the
holder to purchase one Common Share for a price of C$0.20 for a
period of 24 months from the date of closing. The securities to be
issued will be subject to a statutory four month plus one day hold
period from the date of closing.
The Private Placement will be conducted in reliance upon certain
prospectus and registration exemptions. The net proceeds from the
Private Placement will be used to enhance the Corporation's cash on
hand and strengthen its working capital position. Gemoscan
currently has a total of 27,044,256 Common Shares outstanding.
In connection with the Private Placement, finder's fees may be
payable in cash, Common Shares, or Warrants, or a combination
thereof. Any securities to be issued as finder's fees will be
subject to a statutory four month plus one day hold period from the
date of closing. The Private Placement and finder's fees are
subject to applicable regulatory approvals, including the
acceptance of the TSX Venture Exchange.
ABOUT GEMOSCAN CANADA, INC.
Gemoscan is an industry leader in food intolerance management
and maintains a first-to-market position with Canada wide
distribution through select retail partners. Founded in 2003, using
its proprietary patented technology, Gemoscan develops, owns and
markets comprehensive food sensitivity and dietary management
solutions for consumers, including the HEMOCODETM Food Intolerance
System, a personalized naturopathic nutritional program that
promotes well-being. Gemoscan is the first and only provider to
commercialize a food intolerance management solution directly to
consumers in partnership with retailers, and today offers the most
comprehensive services available.
Gemoscan Canada, Inc. trades its shares on the Toronto Venture
Exchange (TSX-V) under the symbol GES and is quoted on the Munich,
Frankfurt and Stuttgart Stock Exchanges under the symbol 1GE.
Forward-Looking Information
This news release contains certain "forward-looking
information." All statements, other than statements of historical
fact, that address activities, events or developments that Gemoscan
believes, expects or anticipates will or may occur in the future.
These forward-looking statements reflect the current expectations
or beliefs of Gemoscan based on information currently available to
Gemoscan. Forward-looking statements are subject to a number of
significant risks and uncertainties and other factors that may
cause the actual results of Gemoscan to differ materially from
those discussed in the forward-looking statements, and even if such
actual results are realized or substantially realized, there can be
no assurance that they will have the expected consequences to, or
effects on Gemoscan. Any forward-looking statement speaks only as
of the date on which it is made and, except as may be required by
applicable securities laws, Gemoscan disclaims any intent or
obligation to update any forward-looking statement, whether as a
result of new information, future events or results or otherwise.
Although Gemoscan believes that the assumptions inherent in the
forward-looking statements are reasonable, forward-looking
statements are not guarantees of future performance and accordingly
undue reliance should not be put on such statements due to the
inherent uncertainty therein.
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
CONTACT: Gemoscan Canada, Inc.
Brian Kalish
Director, President and CEO
(416) 650-1200
Email: bkalish@hemocode.com
Company website: www.gemoscan.com