Vancouver, British Columbia – December 6, 2017 – NeutriSci International Inc. (the “Company” or “NeutriSci”) (TSX-V: NU, OTCQB: NRXCF, Frankfurt: 1N9) is pleased to announce that it has completed a non-brokered private placement (the “Placement”) in which it raised gross proceeds of $499,999.95.
The Placement consisted of 5,555,555 units (the “Units”) of the Company at a price of $0.09 per Unit. Each Unit consists of one common share of the Company and one half of one common share purchase warrant, with each full warrant entitling the holder to acquire an additional common share of the Company at a price of $0.15 until June 6, 2019.
In connection with the Placement, the Company paid a cash commission totalling $31,136 and issued 345,956 finder’s warrants. Each finder’s warrant entitles the holder to acquire one common share, at a price of $0.15 per share until June 6, 2019. All securities issued in connection with the Placement are subject to a hold period expiring April 7, 2018.
Proceeds of the Placement will be used for marketing and advertising programs related to neuenergy®, and for general corporate purposes.
The Company also announces that Glen Rehman, President of the Company, has been promoted to the position of CEO, replacing Scott Ackerman who has resigned as CEO. The Company thanks Scott for his valuable service to the Company.
Glen Rehman CEO of NeutriSci, stated: “This latest round of investment provides us with the opportunity to move forward with strategic new partnerships, as well as our existing ones. We are pleased with the ongoing support of our current and new investors. We have built a solid foundation and are very excited about the opportunities that lie ahead of us as we continue to grow our sales of neuenergy, and expand into new opportunities for our product in the cannabinoid industry.”
The Company also announces that it has granted a total of 2,600,000 incentive stock options to certain directors, officers and a consultant of the Company. The options have an exercise price of $0.145 per share and expire in 5 years.
Neuenergy® is a revolutionary energy tab designed to deliver enhanced focus and mental clarity with no sugar, no calories and no crash associated with typical energy products.
To find out more about neuenergy®, please visit www.getneuenergy.com.
NEUTRISCI INTERNATIONAL INC.
NeutriSci International Inc.
Tel: (403) 264-6320
About NeutriSci International Inc.: NeutriSci specializes in the innovation, production and formulation of nutraceutical products. Established in 2009, NeutriSci is building sustainable sales models with Convenience, Chain Drug, and Mass Market and Supermarket retailers for neuenergy®, the Company’s natural energy and focus supplement that has at its core, the beneficial effects of blueberries.
Neuenergy® contains a unique patented combination of blueberries (pterostilbene) and naturally derived caffeine, and is a revolutionary energy tab designed to deliver enhanced focus and mental clarity with no sugar, no calories and no crash associated with typical energy products. To find out more about neuenergy®, please visit www.getneuenergy.com.
With the recent formation of Ambarii, a joint venture partnership with Lexaria Bioscience Corp., NeutriSci is expanding its reach into the burgeoning cannabinoid industry.
For more information, please visit: www.neutrisci.com or www.ambariicorp.com.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release may include forward-looking statements that are subject to risks and uncertainties. All statements within, other than statements of historical fact, are to be considered forward looking. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in forward-looking statements. Factors that could cause actual results to differ materially from those in forward- looking statements include market prices, exploitation and exploration successes, continued availability of capital and financing, and general economic, market or business conditions. There can be no assurances that such statements will prove accurate and, therefore, readers are advised to rely on their own evaluation of such uncertainties. We do not assume any obligation to update any forward-looking statements except as required under the applicable laws.
Statements in this press release have not been evaluated by the Food and Drug Administration. Products or ingredients are not intended to diagnose, treat, cure or prevent any disease.