OTTAWA, June 9, 2015 /CNW/ - Annidis Corporation (TSX Venture: RHA) ("Annidis" or the "Corporation") is pleased to announce that, further to its news release dated May 6, 2015, it has closed the non-brokered private placement of 10,000,000 common shares in the capital of the Corporation ("Common Share") at a price of $0.25 per Common Share with Yimai Technology International Company Limited ("Yimai"), and an insider of Annidis, pursuant to which Annidis has raised gross proceeds of $2,500,000 (the "Private Placement").
The gross proceeds from the Private Placement will be used for working capital purposes, including procuring inventory and to expand the sales and services part of the business.
In addition, Annidis has closed the shares for debt transaction with Yimai (also announced by the Corporation on May 6, 2015) whereby Annidis and Yimai have settled a $500,000 promissory note (plus applicable interest thereon) in exchange for 2,016,667 Common Shares to Yimai at a deemed price of $0.25 per Common Share (the "Shares for Debt Transaction").
All securities issued pursuant to the Private Placement and Shares for Debt Transaction are subject to a four-month hold period expiring on October 10, 2015.
About Annidis Corporation
Annidis (TSX-V: RHA) has developed and is marketing a new imaging platform technology based on Multi-Spectral Imaging (MSI). This new technology is opening a new frontier in disease identification and its management. The Annidis MSI technology allows eye-care professionals to view non-invasively the deepest areas of the eye aiding eye care professionals in the early identification and treatment of debilitating eye diseases. The Corporation's existing RHA 2020-U Gold, used by eye care professionals as a broad based tool for detecting early-onset of eye related diseases such as Dry AMD, has a potential market of over 20,000 clinics in North America. The RHA Platinum MD will further strengthen the value proposition allowing doctors to visualize choroidal and retinal vasculature non-invasively. The RHA Platinum MD has global market potential of more than 100,000 Ophthalmologists.
Neither 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.
Certain statements in this press release are forward looking statements and are prospective in nature, including statements with respect to the Corporation's intended use of the proceeds of the Note. Forwardlooking statements are not based on historical facts, but rather on current expectations and projections about future events, and are therefore subject to risks and uncertainties which could cause actual results to differ materially from the future results expressed or implied by the forwardlooking statements. These statements generally can be identified by the use of forwardlooking words such as "may", "should", "will", "could", "intend", "estimate", "plan", "anticipate", "expect", "believe" or "continue", or the negative thereof or similar variations. Such statements are qualified in their entirety by the inherent risks and uncertainties surrounding future expectations. Such forwardlooking statements should therefore be construed in light of such factors, and the Corporation is not under any obligation, and expressly disclaims any intention or obligation, to update or revise any forwardlooking statements, whether as a result of new information, future events or otherwise.
SOURCE Annidis Corporation
For further information: Gerald Slemko, Chairman and Director, Annidis Corporation, (519) 858-1582 ext. 239, [email protected]; Babak Pedram, Investor Relations, Virtus Advisory Group Inc., 416-995-8651, [email protected]