Mr. Paul Andreola reports
BRISIO INNOVATIONS ANNOUNCES PRIVATE PLACEMENT AND STOCK OPTIONS
Brisio Innovations Inc. intends to complete a non-brokered private placement financing of a minimum of 2.5 million units and up to a maximum of five million units at a price of 20 cents per unit for gross proceeds of a minimum of $500,000 and up to a maximum of $1-million.
Each unit will consist of one common share of the company and one-half of one share purchase warrant. Each whole warrant will entitle the holder thereof to purchase one additional share at a price of 30 cents per share for a period of two years from closing of the financing. In the event that the average closing price is equal to or greater than 45 cents per share for a period of 20 consecutive trading days, the company may accelerate the expiry date of the warrants to a date that is 30 days after the notice of completion of such period.
The proceeds of the financing will be used for general working capital.
The company also announces that it has granted 75,000 stock options to an officer of the company. The options will be exercisable at 23 cents per share and expire on Dec. 29, 2022.
We seek Safe Harbor.