NanoSphere Announces Revised Terms for Private Placement
DENVER–(BUSINESS WIRE)–NanoSphere
Health Sciences, Inc. (CSE: NSHS) (OTC: NSHSF) announces revised
terms for its non-brokered private placement previously announced on
Nov. 16, 2018. The offering will consist of up to 7,500,000 units at a
price of $0.30 per unit for gross proceeds of up to CAD $2,250,000. Each
unit will be comprised of a common share and a full purchase warrant
exercisable to purchase a further common share at a price of $0.50 cents
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.
NanoSphere has developed and patented a radically improved delivery
system for cannabinoids that allows for precise dosage, faster onset of
therapeutic effects, and exponentially higher bioavailability. The
proceeds from the financing will be used to finance the expansion of the
Company’s production and sales activity.
NanoSphere announced on November 8, 2018 the formation of a wholly owned
subsidiary, NanoSphere Cannabis International Inc. (NCI), which is
tasked with licensing NanoSphere’s groundbreaking technology in
countries outside the United States where medical and/or recreational
cannabis is legal. The Company is also releasing two new product lines,
including an intraoral cannabis product and an intranasal cannabis spray
that can replace the need to smoke or vape cannabis. Both have
applications in the medical and recreational cannabis markets.
The Company may pay certain finder fees in connection with the
financing, subject to the policies of the Canadian Securities Exchange.
All securities issuances are subject to the approval of the Exchange and
will have a 4-month statutory hold period from the date of issuance.
NanoSphere’s Commitment to Licensing IP
NanoSphere launched its IP licensing program in 2015 and is entertaining
several licensing opportunities via a rigorous evaluation process. For
more information about NanoSphere’s licensing program, please visit:
https://www.nanospherehealth.com/licensing/
About NanoSphere
NanoSphere Health Sciences LLC, is a biotechnology firm specializing in
the creation of the 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. NanoSphere
Delivery System™ represents one of the most important developments for
advancing the non-invasive and user-friendly delivery of biological
agents in over 25 years. For more information on NanoSphere, please
visit http://www.nanospherehealth.com.
About Evolve Formulas
Evolve Formulas is the provider of the world’s first and only
scientifically proven nanoparticle delivery system in cannabis. Evolve’s
pioneering product, Transdermal NanoSerum™, is a fast-acting,
ultra-strength transdermal formula infused with nano-encapsulated
cannabis and cannabis extracts. NanoSerum™ immediately penetrates the
skin to deliver direct-focused results and intelligently carries a full
spectrum of cannabinoids and phytochemicals to receptors throughout the
body for systemic healing. Evolve Formula products leverage NanoSphere
Health Sciences™ patented NanoSphere Delivery System™. The NanoSphere
Delivery System™ is 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 on Evolve Formulas, visit
https://www.evolveformulas.com/. Follow us on
Facebook,
Instagram and
Twitter.
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 sub-licensing 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.
Contacts
Gabrielle Wesseldyk
gabrielle@rosengrouppr.com
212-255-0945
On
behalf of the Board
David Sutton, President and COO
Mobile:
720.520.4283
E-mail: dsutton@nanospherehealth.com
Investor
Contact:
Victor Goncalves, Executive Vice President
Mobile:
204-997-5517
E-mail: vgoncalves@nanospherehealth.com
