OTTAWA, Jan. 24, 2012 /CNW/ - Annidis Corporation (TSX-V:RHA), creator of the Annidis RHATM imaging technology that assists eye-care professionals screen, detect, diagnose and manage ocular diseases, today announced that it will raise a minimum of $2,000,000 and maximum of $4,000,000 by way of a private placement of 5,000,000 to 10,000,000 units. Each unit will be priced at $0.40 and consist of one common share and one half common share purchase warrant (the "Units"). Each whole share purchase warrant will entitle the holder to purchase one additional common share at a price of $0.80 for a period of three years from the date of issue. Newport Private Wealth Inc., the lead agent, is offering the Units on a "best efforts" basis.
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.
The Financing remains subject to the approval of the TSX Venture Exchange. All securities issued pursuant to the Private Placement will be subject to a four-month hold period, commencing at closing.
About Annidis Corporation
Annidis (TSX-V:RHA) is dedicated to researching and developing instrumentation to assist in the early detection and monitoring of diseases of the eye. The Company's RHATM is an ocular pathology management system that integrates advanced multi-spectral imaging and analytic software for early detection and management of ocular pathologies such as glaucoma, age-related macular degeneration and diabetic retinopathy. The RHA system is the result of a multiyear research and development effort by the Annidis team in collaboration with leading eye care professionals and researchers in Canada including the Ottawa Eye Institute, Toronto Western Hospital, the School of Optometry in Montreal and numerous optometric clinics in Ontario.
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.
This news release may contain "forward-looking information" within the meaning of applicable Canadian securities legislation. Statements made in this news release, other than those concerning historical financial information, may be forward-looking and therefore subject to various risks and uncertainties. The words "may", "will", "could", "should", "would", "suspect", "outlook", "believe", "plan", "anticipate", "estimate", "expect", "intend", "forecast", "objective", "hope", and "continue" (or the negative thereof), and words and expressions of similar import are intended to identify forward-looking statements. Certain material factors or assumptions are implied in making forward-looking statements and actual results may differ materially from those expressed or implied in such statements. Factors that could cause results to vary include those identified in the Company's Annual Information Form and other such filings with Canadian securities regulatory authorities, such as the applicability of patents and proprietary technology; possible patent ligation; regulatory approval of products in development; changes in government regulation or regulatory approval processes; government and third party reimbursement; dependence on strategic partnerships; intensifying competition; rapid technological change in the industry; anticipated future losses; the ability to access capital; and the ability to attract and retain key personnel. All forward-looking information presented herein should be considered in conjunction with such filings. Except as required by Canadian securities laws, the Corporation does not undertake to update any forward-looking statements; such statements speak only as of the date made.
For further information:
Gerald Slemko, CEO
(416) 815-0700 ext. 264