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QUÉBEC CITY, March 2, 2015 /CNW Telbec/ - TSO3 Inc. ("TSO3" or the "Company") (TSX: TOS) an innovator in sterilization technology for medical devices in healthcare settings, today announced that, in relation to the placement of units on a bought deal basis (the "Offering") announced earlier, the underwriters have exercised their option (the "Underwriters' Option") to purchase an additional 1,200,000 units at a price of C$1.25 per unit. TSO3 will receive additional gross proceeds of C$1,500,000 from the exercise of the Underwriters' Option, increasing the total size of the offering to C$11,500,000. Closing of the Underwriters' Option is expected to occur concurrent with the closing of the Offering on or about March 5, 2015.
Founded in 1998, TSO3's activities encompass research, development, commercialization and licensing of sterilization processes for heat-sensitive medical devices, related equipment, accessories and consumable supplies. TSO3 designs products for sterile processing areas in the hospital environment and offers an advantageous replacement solution to other low temperature sterilization processes currently used in hospitals.
For more information about TSO3, visit the Company's Web site at www.tso3.com.
The statements in this release and oral statements made by representatives of TSO3 relating to matters that are not historical facts (including, without limitation, those regarding the timing or outcome of any financing undertaken by TSO3) are forward-looking statements that involve certain risks, uncertainties and hypotheses, including, but not limited to, general business and economic conditions, the condition of the financial markets, the ability of TSO3 to obtain financing on favourable terms and other risks and uncertainties.
The TSX has neither approved nor disapproved the information contained herein and accepts no responsibility for it.
SOURCE TSO3 Inc.
For further information: R.M. (Ric) Rumble, President and CEO, 418 651-0003, Email: email@example.com; Paule De Blois, General Manager, Administration, 418 651-0003, Email: firstname.lastname@example.org