Surenano Closes Financing
The Company intends to use the cash proceeds for operating expenses, including legal and audit fees and general working capital. No part of the proceeds will be used in connection with investor relations activities. All securities issued in the private placement will be subject to a four month and a day hold period.
A related party, Charles Malette, participated in the private placement, purchasing shares for $110,000 cash and converting $85,000 in debt owed to him by the Company. These investments into SureNano are exempt from valuation and minority shareholder approval requirements under NI 61-101 because they amount to less than 25% of capitalization. On completion of the Debt Settlement Mr. Malette will own 9,621,600 shares of the Company (40% of common shares then issued). Mr. MaLette is the President, Secretary and director of SureNano. The other participants in the private placement are Arm's length parties.
About SureNano Science Ltd.:
The business of SureNano Science Ltd. is the sale and distribution of the SureNanoTM surfactant, which is a ready-to-mix food grade compound that provides the base for high performance nanoemulsions to create incredibly homogeneous and stable products while maximizing bioavailability, clarity, and taste. The Company has an exclusive license to distribute the SureNanoTM surfactant within Canada; Oklahoma, USA; and Colorado, USA.
ON BEHALF OF SURENANO SCIENCE LTD.
"Charles MaLette"
CEO, President, Director & Secretary
T: 604-428-5171
E: ...
Forward-Looking Information:
This press release may include forward-looking information within the meaning of Canadian securities legislation, concerning the business of SureNano. Forward-looking information is based on certain key expectations and assumptions made by the management of SureNano. In some cases, you can identify forward-looking statements by the use of words such as "will," "may," "would," "expect," "intend," "plan," "seek," "anticipate," "believe," "estimate," "predict," "potential," "continue," "likely," "could" and variations of these terms and similar expressions, or the negative of these terms or similar expressions. Although SureNano believes that the expectations and assumptions on which such forward-looking information is based are reasonable, undue reliance should not be placed on the forward-looking information because SureNano can give no assurance that they will prove to be correct.
The Canadian Securities Exchange (CSE) has not reviewed and does not accept responsibility for the adequacy or the accuracy of the contents of this release.
To view the source version of this press release, please visit
SOURCE: SureNano Science Ltd.

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