Pursuant to the terms of the Public Offering, the Company issued 7,666,706 Units, including 1,000,006 Units issued pursuant to the exercise of the Underwriters' over-allotment option, at a price per Unit of
A total of 1,498,032 Units were issued pursuant to the Private Placement at a price of
The Company intends to use the net proceeds of the Public Offering for sales, marketing, research and development, acquisitions, general administrative and working capital purposes. The net proceeds from the Private Placement will be used for general corporate and other working capital purposes, as well as additional potential acquisitions.
The Common Shares and Warrants issued pursuant to the Private Placement are subject to a hold period of four months plus one day from the date of closing of the Private Placement. Final acceptance by the
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Through its European subsidiary RS2D, the Company's electronic boards and software are used in conventional NMR and MRI equipment and are being incorporated into next-gen MRI systems as well as miniaturized MRI devices.
Notice regarding Forward Looking Statements and Legal Disclaimer
This news release contains certain "forward-looking statements" within the meaning of such statements under applicable securities law relating to the use of net proceeds of the Public Offering and the Private Placement, the final acceptance of the Public Offering and Private Placement by the TSXV and other matters ancillary or incidental to the foregoing.
All statements included herein, other than statements of historical fact, may be forward-looking information and such information involves various risks and uncertainties. Forward-looking information is often, but not always, identified by the use of words such as "anticipates", "plan", "continue", "expect", "project", "intend", "believe", "anticipate", "estimate", "may", "will", "potential", "proposed", "positioned" and other similar words, or statements that certain events or conditions "may" or "will" occur. These statements are only predictions. Various assumptions were used in drawing the conclusions or making the projections contained in the forward-looking statements throughout this news release. Forward-looking statements are based on the opinions and estimates of management at the date the statements are made and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking statements. The Company is under no obligation, and expressly disclaims any intention or obligation, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable law.
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