BioSpace Collaborative

Academic/Biomedical Research
News & Jobs
Biotechnology and Pharmaceutical Channel Medical Device and Diagnostics Channel Clinical Research Channel BioSpace Collaborative    Job Seekers:  Register | Login          Employers:  Register | Login  

NEWSLETTERS
Free Newsletters
Archive
My Subscriptions

NEWS
News by Subject
News by Disease
News by Date
PLoS
Search News
Post Your News
JoVE

CAREER NETWORK
Job Seeker Login
Most Recent Jobs
Search Jobs
Post Resume
Career Fairs
Career Resources
For Employers

HOTBEDS
Regional News
US & Canada
  Biotech Bay
  Biotech Beach
  Genetown
  Pharm Country
  BioCapital
  BioMidwest
  Bio NC
  BioForest
  Southern Pharm
  BioCanada East
  US Device
Europe
Asia

DIVERSITY

PROFILES
Company Profiles

INTELLIGENCE
Research Store

INDUSTRY EVENTS
Research Events
Post an Event
RESOURCES
Real Estate
Business Opportunities

 News | News By Subject | News by Disease News By Date | Search News
Get Our Industry eNewsletter FREE email:    
   

BioTonix Announces Private Placement


10/5/2010 9:26:22 AM

BOUCHERVILLE, QUEBEC--(Marketwire - October 05, 2010) - Biotonix (2010) Inc. (TSX VENTURE: BTX) ("Biotonix"), a leader in postural health and fitness, today announced it has signed a letter of engagement with Industrial Alliance Securities Inc. for a brokered private placement of a maximum of 1,666,667 units for gross proceeds of up to CAD $1.0 million.

Each unit, priced at CAD $0.60, will be comprised of one common share of Biotonix and one-half common share purchase warrant. Each whole common share purchase warrant will entitle the holder thereof to purchase one common share of the Company at CAD $1.00 for a period of 24 months following the closing of the offering. The units will be offered to accredited investors in the Provinces of Quebec, Ontario, British Columbia and Alberta. The securities issued pursuant to the offering will be subject to a 4-month restricted period and the offering will be subject to regulatory approvals.

The net proceeds of this offering will be used for bringing to market Biotonix online self-evaluation tools for posture and fitness, and working capital purposes.

At closing, Biotonix will pay to Industrial Alliance Securities Inc. a cash commission equal to 9% of the gross proceeds.

BIOTONIX PROFILE

Biotonix (TSX VENTURE: BTX) offers innovative health solutions for posture correction and fitness using a web-based imaging software technology. Biotonix is currently developing novel orthotics for the back and foot, also geared specifically toward improving posture. For more information please visit www.biotonix.com or www.golfprint.ca

BIOTONIX'S FORWARD-LOOKING STATEMENTS

This press release contains forward-looking statements that reflect the Company's current expectation regarding future events. There is a risk that expectations and forward looking statements will not prove to be accurate. Readers are cautioned not to place undue reliance on these forward looking statements as they involve risks and uncertainties, which could make actual results differ materially from those projected herein and depend on a number of factors including, but not limited to, no history of profitability, future financing, intellectual property and patents, key personnel, competitive marketplace, technology obsolescence, share price volatility and other risks detailed from time to time in the Company's filings. While Biotonix anticipates that subsequent events and developments may cause its views to change, Biotonix specifically disclaims any obligation to update these forward looking statements, unless obligated to do so 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.


Contacts:
Biotonix
Louise St-Onge
CEO
514-840-0004 ext. 229

Biotonix
Julie M. Thibodeau, B.Sc., MBA
VP, Corporate communications and investor relations
514-840-0004 ext 223
thibodeauj@biotonix.com

www.biotonix.com
www.golfprint.ca



Read at BioSpace.com

BioTonix
 
 

ADD TO DEL.ICIO.US    ADD TO DIGG    ADD TO FURL    ADD TO STUMBLEUPON    ADD TO TECHNORATI FAVORITES
 

//-->