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KIRKLAND, QC, May 25, 2018 /CNW/ - Ortho Regenerative Technologies Inc. (CSE: ORTH) ("Ortho RTi" or the "Corporation") is pleased to announce a non-brokered placement of up to 5,000,000 Class "A" shares ("Shares") at a price of $0.40 per Share for gross proceeds of $2,000,000 ("Private Placement").
The net proceeds from the Private Placement will be used to fund research and development costs and for general corporate purposes.
The securities issued under the Private Placement will be subject to a four-month hold period in accordance with applicable securities legislation.
The Corporation may pay a commission or finder's fee to eligible parties in connection with the Private Placement, in compliance with applicable securities laws.
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. Visit us on the internet at www.orthorti.com.
This news release may contain certain forward-looking statements regarding the Corporation's expectations for future events. Such expectations are based on certain assumptions that are founded on currently available information. If these assumptions prove incorrect, actual results may differ materially from those contemplated by the forward-looking statements contained in this press release. Factors that could cause actual results to differ include, amongst others, uncertainty as to the final result and other risks. The Corporation disclaims any intention or obligation to publicly update or revise any forward- looking statements, whether as a result of new information, future events or otherwise, other than as required by security laws.
SOURCE Ortho Regenerative Technologies Inc.
For further information: Stephen Kilmer, Investor & Media Relations, 647.872.4849, [email protected]