Izotropic plans $150K private placement at $0.20 per unit

Izotropic Corporation (CSE: IZO) (OTCQB: IZOZF) (FSE: 1R3) announced plans to complete a non-brokered private placement of 750,000 units with a strategic investor at $0.20 per unit, for gross proceeds of up to $150,000.

Each unit consists of one common share and one transferable warrant. Each warrant entitles the holder to purchase one additional share at $0.30 for a period of three years from the closing of the offering.

The company stated that proceeds will be used for general working capital. All securities issued will be subject to a statutory hold period of four months and one day from the date of issuance. Completion of the offering is subject to regulatory approvals.

Izotropic is a medical device company developing IzoView, a dedicated breast CT imaging system. The company is based in Vancouver, British Columbia, with operations in Casablanca, Morocco.

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