DENVER--(BUSINESS WIRE)--NanoSphere Health Sciences Inc. (CSE: NSHS) (OTC: NSHSF) the biotechnology leader behind the patented NanoSphere Delivery System™, is pleased to announce a first tranche closing of its non-brokered private placement announced November 28, 2018. Pursuant to the first tranche, the company issued 4,452,254 Units at a price of $0.30 per Unit for gross proceeds of CAD $1,335,676.
Each Unit was comprised of one common share and a full purchase warrant exercisable to purchase a further common share at a price of $0.50 for a period of 24 months, subject to accelerated expiry if the company’s shares trade at or above $0.75 for 15 consecutive days. In connection with the closing, the company paid an aggregate of $22,636 in finder fees and issued 17,500 finder warrants having the same terms as the private placement warrants. All securities issued are subject to a statutory hold period expiring April 15, 2019.
NanoSphere Health Sciences LLC, is a biotechnology firm specializing in the creation of the patented NanoSphere Delivery System™, a revolutionary platform using nanotechnology in the biodelivery of supplements, nutraceuticals and over-the-counter medications for the cannabis, pharmaceutical and animal health industries, and beyond. For more information, please visit http://www.nanospherehealth.com.
About Evolve Formulas
NanoSphere Health’s Evolve Formula’s line, currently consists of three variations of the transdermal NanoSerum™ formula, one THC-dominant, CBD-dominant and hemp-derived CBD. All applications utilize the NanoSphere Delivery System™, for increased bioavailability, minimal wait-time and precision-metered dosing. This patented technology is the first and only advanced cannabinoid delivery system and can only be found in NanoSphere Health products. For more information on Evolve Formulas, visit https://www.evolveformulas.com/.
The Canadian Securities Exchange does not accept responsibility for the adequacy or accuracy of this release.
Forward Looking Statement Caution
This news release includes forward looking statements that are subject to assumptions, risks and uncertainties. Statements in this news release which are not purely historical are forward looking statements, including without limitation any statements concerning the Company's intentions, plans, estimates, expectations or beliefs regarding the future. Although the Company believes that any forward looking statements in this news release are reasonable, there can be no assurance that any such forward looking statements will prove to be accurate. The Company cautions readers that all forward looking statements, including without limitation those relating to the Company's future operations and business prospects, are based on assumptions none of which can be assured, and are subject to certain risks and uncertainties that could cause actual events or results to differ materially from those indicated in the forward looking statements. Without limitation, these include assumptions, risks and uncertainties inherent in completing sublicensing arrangements in the United States, Canada and abroad, product demand, production, competition and government regulation of the Cannabis industry, any and all of which may have an adverse effect on the Company’s expansion plans, sales, revenues and its financial results and condition. Readers are advised to rely on their own evaluation of such risks and uncertainties and should not place undue reliance on forward looking statements. Any forward looking statements are made as of the date of this news release, and the Company assumes no obligation to update the forward looking statements, or to update the reasons why actual events or results could or do differ from those projected in the forward looking statements, whether as a result of new information, future events or otherwise.