Ellipsiz Communications Ltd. (TSXV:ECT) announced a non-brokered private placement of 2,500,000 working capital units at a price of CAD 0.15 per unit for gross proceeds of CAD 375,000 with new investor Cybernaut International Holdings Company Limited (SEHK:1020) on July 17, 2019. Each unit consists of one common share and one share purchase warrant, exercisable at a price of CAD 0.15 per share for two years from the date of closing. Securities issued are subject to a statutory hold period expiring on November 17, 2019.

The investor will not exercise any warrants if it would result in holding more than 10% stake in the company. TSX Venture Exchange has accepted for filing documentation with respect to the transaction.