VANCOUVER, BRITISH COLUMBIA – (January 28, 2015) — Brisio Innovations Inc. (CSE: BZI) (PINKSHEETS: NTCEF) (the “Company”) announces that, further to its press releases of January 13 and January 15, 2015, it has closed a non-brokered private placement offering (the “Offering”) pursuant to which it sold an aggregate of 2,350,000 units (each, a “Unit”) at a price of $0.10 per Unit, for gross proceeds of $235,000. Each Unit sold was comprised of one common share in the capital of the Company and one half of one transferable share purchase warrant (each whole warrant being, a “Warrant”). Each Warrant entitles the holder thereof to acquire one common share at a price of $0.20 per share until 5:00 p.m. (Vancouver time) on January 27, 2016. The Warrants are subject to an acceleration clause pursuant to which if, at any time after May 28, 2015, the Company’s common shares trade at a closing price of greater than $0.30 per share for at least twenty-one consecutive trading days, the Company may accelerate the expiry date of the Warrants to 21 days after the date that the Company provides notice of same to the Warrant holders. The proceeds of the Offering will be used for working capital purposes.
The securities issued under the Offering, and the shares that may be issuable on exercise of the Warrants, are subject to a statutory hold period expiring on May 28, 2015.
On behalf of the Board,
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Disclaimer for Forward-Looking Information
Certain statements in this press release related to the proposed Financing are forward-looking statements and are prospective in nature. Forward-looking statements are not based on historical facts, but rather on current expectations and projections about future events, and are therefore subject to risks and uncertainties which could cause actual results to differ materially from the future results expressed or implied by the forward-looking statements. These statements generally can be identified by the use of forward-looking words such as “may”, “should”, “will”, “could”, “intend”, “estimate”, “plan”, “anticipate”, “expect”, “believe” or “continue”, or the negative thereof or similar variations. Such statements are qualified in their entirety by the inherent risks and uncertainties surrounding the Company’s ability to complete the Financing and the use of proceeds thereof. Such forward-looking statements should therefore be construed in light of such factors, and the Company is not under any 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.