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Ortho RTi Announces the Issuance of 3,610,000 Shares Pursuant to its Non-Brokered Private Placement

 

 

 

 

 

Ortho Regenerative Technologies Inc. (CSE: ORTH) is pleased to announce that it has issued a total of 3,610,000 Class “A” shares pursuant to its previously announced non-brokered private placement.  The Shares were sold at a price per share of $0.40, for total gross proceeds to the Corporation of $1,444,000.

 

 

The Corporation paid a cash commission of $57,200 and issued 143,000 non-transferable share purchase warrants.  Each Finder Warrant entitles the holder thereof to acquire one Share at a purchase price of $0.70 for a period of 18 months from the date of issuance of the Finder’s Warrants.

 

 

Dr. Brent Norton, Executive Chairman and CEO of the Corporation, has subscribed for Shares pursuant to the Private Placement. The issuance of the Shares to an insider pursuant to the Private Placement will be considered a related party transaction within the meaning of Multilateral Instrument 61-101. The Corporation intends to rely on the exemptions from valuation and minority shareholder approval requirements of MI 61-101 contained in sections 5.5(b) and 5.7(1)(b) of MI 61-101 in respect of Dr. Norton’s participation.

 

 

The net proceeds from the Private Placement will be used to fund research and development costs and for general corporate purposes of the Corporation.

 

 

This press release does not constitute an offer to sell or a solicitation of an offer to buy securities in the United States. The securities referenced herein have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”), or any state securities laws and may not be offered or sold in the United States except in compliance with one or more exemptions from the registration requirements of the U.S. Securities Act and applicable securities laws.

 

 

About Ortho Regenerative Technologies Inc.

 

 

Ortho RTi is an emerging Orthopaedic and Sports Medicine technology company dedicated to the development of novel therapeutic tissue repair devices to dramatically improve the success rate of sports medicine surgeries. Our proprietary biopolymer has been specifically designed to increase the healing rates of sports related injuries to ligaments, tendons and cartilage. The polymer can be directly placed into the site of injury by a surgeon during a routine operative procedure without significantly extending the time of the surgery and without further intervention. 

 

Posted May 31, 2018

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