Gemoscan Canada Announces Closing of Non-Brokered Private Placement
January 28 2013 - 1:45PM
Gemoscan Canada, Inc. ("
Gemoscan" or the
"
Corporation") – (TSX-V:GES) further to Gemoscan's
press releases of December 18, 2012 and January 21, 2013, it is
pleased to announce, in compliance with TSX Venture Exchange
("
TSXV") policies, the closing of its previously
disclosed non-brokered private placement for aggregate gross
proceeds of Cdn.$133,625.00 (the "
Offering").
Under the Offering, the Corporation issued an aggregate of
1,069,000 units (the "
Units") at Cdn.$0.125 per
Unit. Each Unit consisted of one Class A share ("
Common
Share") and one half of one Class A share purchase warrant
(the "
Warrants"). Each whole Warrant will entitle
the holder to purchase one Common Share of the Corporation (the
"
Warrant Share") at a price of Cdn.$0.20 per
Warrant Share until January 18, 2015. The Units issued will be
subject to a statutory four month plus one day hold period from
January 18, 2013.
The Corporation paid aggregate finder's fees of Cdn.$10,690 and
issued an aggregate of 85,520 finder's warrants ("Finder's
Warrants") in connection with the Offering. Each
Finder's Warrant entitles the holder to purchase one Common Share
of the Corporation (the "Finder's Warrant Share")
at a price of Cdn.$0.20 per Finder's Warrant Share, until January
18, 2015. The Finder's Warrant Shares issued will be subject
to a statutory four month plus one day hold period from January 18,
2013.
The Offering was conducted in reliance upon certain prospectus
and registration exemptions. The net proceeds from the
Offering will be used to enhance the Corporation's cash on hand and
strengthen its working capital position.
The Offering and finder's fees are subject to applicable
regulatory approvals, including final acceptance of the TSXV.
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.
Company website: www.gemoscan.com
CONTACT: Gemoscan Canada, Inc.
Brian Kalish
Director, President and CEO
(416) 650-1200
Email: bkalish@hemocode.com