EDMONTON, Alberta, February 12, 2015 – BioNeutra Global Corporation (CSE: BGA) (“BioNeutra” or the “Company“) announces that, subject to regulatory approval, the Corporation intends to complete an offering of up to 3,300,000 units (“Units”) at a price of $0.30 per Unit for gross proceeds of up to $990,000 by way of a private placement (the “Private Placement”). Each Unit is comprised of one (1) common share (“Common Share”) and one (1) Common Share purchase warrant (a “Warrant”). Each Warrant entitles the holder to purchase one (1) additional Common Share at a price of $0.50 per Common Share for a period of thirty-six (36) months following the date of closing, provided that if after four months and one day following the closing date the closing price of the common shares is equal to or exceeds $1.00 for twenty (20) consecutive trading days, then the warrants shall automatically accelerate to expire on the date which is thirty (30) days following the date a press release is issued by BioNeutra announcing the reduced warrant term or the date that written notice has been given to the warrantholder.
BioNeutra intends to use the proceeds from the Private Placement for general working capital.
Certain insiders of the Corporation may acquire Units under the Private Placement. Any such participation would constitute a “related party transaction” within the meaning of Multilateral Instrument 61-101 (“MI 61-101”), but are otherwise exempt from the formal valuation and minority approval requirements of MI 61-101.
Additional details regarding the private placement can be found in the Form 9 filed in accordance with the rules of the Canadian Securities Exchange, a copy of which is accessible at www.cnsx.ca under the Corporation’s profile.