VANCOUVER, British Columbia, Oct. 19, 2017 (GLOBE NEWSWIRE) -- Calyx Bio-Ventures Inc. (TSX-V:CYX) (“Calyx” or the “Company”) is pleased to announce that it intends to complete a non-brokered private placement of up to 14,285,714 units (each, a “Unit”), at a price of $0.07 per Unit, for gross proceeds of up to $1,000,000. Each Unit consists one common share of the Company, and one-half-of-one common share purchase warrant (each whole warrant, a “Warrant”). Each Warrant is exercisable to acquire one additional common share of the Company at a price of $0.15 per share for a period of twenty-four months.
All securities issued in connection with the private placement will be subject to a four-month-and-one-day statutory hold period. Completion of the private placement remains subject to the approval of the TSX Venture Exchange.
About Calyx
Calyx’s wholly-owned subsidiary, Cannigistics Agri-Solutions Corp, is a software development company that has created a software platform originally designed for advanced indoor agriculture. The original Cannigistics software platform was designed to enhance the efficiency and effectiveness of indoor agricultural operations, but has significantly evolved to include a wide range of other industries. This now positions Cannigistics to be a leader (in not only agri-software industry), but a leader in many other industries. Additionally, Calyx continues to own a portfolio of proprietary intellectual property with applications in crop enhancement and additionally messaging and blockchain software assets.
For further information about Calyx, please visit www.calyxbio.com or contact:
Roger Forde
President and Chief Executive Officer
Calyx Bio-Ventures Inc.
Tel: 604.880.8822
Email: rogerf@calyxbio.com
Neither the 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.
This news release may contain forward-looking statements. These statements are based on current expectations and assumptions that are subject to risks and uncertainties. Actual results could differ materially because of factors discussed in the management discussion and analysis section of our interim and most recent annual financial statement or other reports and filings with the TSX Venture Exchange and applicable Canadian securities regulators. We do not assume any obligation to update any forward-looking statements, except as required by applicable laws.