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TORONTO, July 3, 2020 /CNW/ - SQI Diagnostics Inc.
("SQI" or the "Company") (TSX-V: SQD) (OTCQB: SQIDF), a life
sciences and diagnostics company that develops and commercializes
proprietary technologies and products for advanced microarray
diagnostics, today announced that 29,011,117 common share purchase
warrants of the Company (the "Warrants") have been exercised
by certain insiders, who are control persons of the Company, for
aggregate gross proceeds of approximately $3,111,000.
Of the Warrants exercised, 25,000,005 Warrants exercised at a
price of $0.11 per common share were
issued pursuant to a private placement of units of the Company on
March 1, 2019 and 4,011,112 Warrants
exercised at a price of $0.09 per
common share were issued on January 30, 2020 pursuant to an
extension of 10% secured non-convertible debentures of the Company
and the advance of additional debt financing by such insiders.
About SQI Diagnostics
SQI Diagnostics is a life sciences and diagnostics company that
develops clinical grade multiplexed microarray and molecular assays
run on its automated instrumentation for the pharmaceutical
research, animal health, and clinical diagnostics markets. SQI
develops custom research and diagnostic assays that are
multiplexed; meaning the simplification, consolidation and
automation of many individual tests into one. This increases sample
throughput, reduces time, cost and chance for human error, and
provides excellent data quality. For more information, please visit
www.sqidiagnostics.com.
Contact:
Interim Chief Executive Officer
Eric Brouwer
416.674.9500 ext. 242
ebrouwer@sqidiagnostics.com
Chief Financial Officer
Morlan Reddock
416.674.9500 ext. 277
mreddock@sqidiagnostics.com
FORWARD-LOOKING INFORMATION
This press release contains certain words and statements,
which may constitute "forward-looking statements" within the
meaning of applicable securities laws. Such statements reflect the
current views of the Company with respect to future events and are
subject to certain risks and uncertainties detailed in the
Company's ongoing filings with the securities regulatory
authorities, available to the public at
www.sedar.com. Actual results, events, and
performance may differ materially. Readers are cautioned not to
place undue reliance on these forward-looking statements. The
Company undertakes no obligation to publicly update or revise any
forward-looking statements either as a result of new information,
future events or otherwise, except as required by applicable
securities laws.
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.
SOURCE SQI Diagnostics Inc.