Izotropic closes $150,000 private placement financing

Izotropic Corporation (CSE: IZO) (OTCQB: IZOZF) (FSE: 1R3) has completed a non-brokered private placement, issuing 750,000 units at $0.20 per unit for gross proceeds of $150,000, according to a company statement.

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

The company said proceeds will be used for general working capital. All securities issued are subject to a statutory hold period of four months and one day from the date of issuance, in accordance with applicable securities legislation.

The completion of the offering remains subject to receipt of all necessary regulatory approvals. The securities have not been registered under the United States Securities Act of 1933 and may not be offered or sold in the United States without registration or an applicable exemption.

Izotropic is a medical device company developing IzoView, a breast CT imaging system. The company notes that IzoView has not yet received regulatory approval or clearance for sale.

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