Sonomax accommodates investors
The private placement will consist of up to 30,000,000 units at a price of
Each unit will consist of one common share and one common share purchase warrant. Each warrant comprised in the units will entitle the holder to purchase one additional common share of Sonomax at a price of
Sonomax will use the proceeds from the private placement for the same purposes as those of the predecessor placement, the continuing development of its self-fit custom expansion earpieces, as well as for the pre-launch sales and marketing initiatives scheduled for later this year.
The private placement will be effected pursuant to prospectus exemptions under applicable securities legislation and is expected to close on or before
The private placement has been conditionally accepted by the TSX Venture Exchange, subject to the filing by Sonomax of standard documentation. The securities issued in the private placement will be subject to a four-month "hold period" under applicable securities legislation and the policies of the TSX Venture Exchange.
There are currently 212,412,953 common shares of Sonomax issued and outstanding.
About the New Sonomax:
Sonomax is an R&D and licensing company of in-ear technologies. The Company's patented instant custom-fitting earpieces deliver the most comfortable sound-enhancing earpieces in the world. This unique technology enables a wide range of applications such as earphones for the music and gaming markets, hearing protection for military and industrial applications, affordable hearing aids and the ever-expanding Bluetooth(TM) headset market.
This news release contains certain forward-looking statements that reflect the current views and/or expectations of Sonomax Hearing Healthcare Inc. with respect to its performance, business and future events. Such statements are subject to a number of risks, uncertainties and assumptions. Actual results and events may vary significantly.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
%SEDAR: 00013736EFor further information: Nick Laperle, President and CEO, Sonomax Hearing Healthcare Inc., (514) 932-2674 extension 2229, firstname.lastname@example.org