ZRO BIOSENTA Inc

BIOSENTA INC. (CSE:ZRO) (the "Company") is pleased to report that as of April 1,
2014, Bassett Financial Corporation Director, Chris Carl, has been named as the
interim Chief Financial Officer of the Company. Mr. Carl has more than two
decades experience as CFO or CEO of developing publicly listed companies in
Canada and the US, and is taking on the role to assist the Company to refocus
its operations toward growing sales and defining a fast-track path to
profitability. Compensation for this position will be limited to the amount paid
to the prior part-time CFO, and a search for a permanent CFO is expected to be
completed in the next 3 to 4 months.


Biosenta is also pleased to announce that it has taken several significant steps
toward improving the Company's financial health by reducing and eliminating
liabilities, and by substantially reducing overhead costs.


As part of this restructuring the Company announces the following:



--  Firstly, it has settled a $540,000 debt owing to Bruce Lewis, the
    Chairman and Secretary of the Company by issuing to him 3,600,000 common
    shares at a subscription price of $0.15 per share. This debt settlement
    also involved cancelling the 1,252,615 warrants issued to him in the
    private placement announced on January 28, 2014. The Company had relied
    on these private placements whereby certain individuals would liquidate
    personal shareholdings and then lend the proceeds to the Company until
    such time as new financing was available. It is significant that this
    last funding has been completed at $0.15 per share, as the average
    disposition price of previously owned shares was well below this price.
    The Company is pleased to report that it will cease funding through this
    practice. 
--  Secondly, the Company is actively seeking and negotiating substantial
    reductions in other debts and payables that are not directly related to
    the production of product, or generation of sales, by the Company. By
    eliminating liabilities not incurred to grow sales, this will serve to
    free up cash to be used for the purpose of growing revenue of the
    Company. 
--  Thirdly, monthly overhead costs have been substantially reduced to
    ensure that only costs directly related to the support of production or
    sales are being incurred.



"We are excited about these changes because they represent a complete refocusing
of the Company toward increasing sales and leading to the goal to become
profitable on a monthly basis as soon as possible.," says Biosenta CEO Chris
Bilz. "We welcome Chris Carl as part of our team. He is already using his wealth
of knowledge, and his focused action, to help us turn the Company around in the
fastest way possible."


Early Warning Report Issued Pursuant to National Instrument 62-103

As required by National Instrument 62-103 - The Early Warning System and Related
Take Over Bids and Insider Reporting Issues - Mr. Lewis, of 74 Lynwood Avenue
#1, Toronto, ON M4V 1K4, intends to file an early warning report (the "Early
Warning Report") regarding the acquisition of the 3,600,000 common shares of the
Company mentioned above. The 3,600,000 common shares, acquired at a subscription
price of $0.15 per share, represent 4.27% of the issued and outstanding common
shares of the Company. Upon completion of the acquisition, Mr. Lewis, who
previously held 5,505,737 common shares, now owns or controls 9,105,737 common
shares, representing 10.81% of the issued and outstanding common shares of the
Company. The Early Warning Report will be filed with the applicable regulators,
a copy of which shall be promptly sent to anyone who requests it from the person
noted below.


All securities issued are subject to a four-month hold period. Pursuant to
Multilateral Instrument 61-101 - Protection of Minority Security Holders in
Special Transactions ("MI 61-101"), the issuance of shares to Mr. Lewis
constitutes a "related party transaction". The Company is exempt from obtaining
both a formal valuation and minority shareholder approval in connection with
such issuance of shares because neither the fair market value of the common
shares issued to the related parties under the Offering, nor the consideration
for such securities, exceeds 25% of the Company's market capitalization as
calculated in accordance with MI 61-101.


About Biosenta Inc.

Biosenta is the first company globally, to the knowledge of management, which
has products that can completely eradicate mold, bacteria and fungi on contact
and prevent re-growth. Other primarily bleach based products can eliminate
surface issues and odours but will not kill the spores that continue to cause
the growth of the microbial substances. The Biosenta products address the demand
created by the mounting health and environmental concerns that mold and other
microbes can affect the immune system, nervous system, liver, kidneys, blood and
cause brain damage. ZeroMoldTM is the first product made available for sale at
the retail level and other, larger scale products, are also being developed for
the Industrial, Commercial, and Institutional ("ICI") markets on a global basis.


The Canadian Securities Exchange (operated by CNSX Markets Inc.) has neither
approved nor disapproved of the contents of this press release.


This release may contain forward-looking statements information and statements
which constitute "forward-looking information" under Canadian securities law and
which may be material regarding, among other things, the Company's beliefs,
plans, objectives, estimates, intentions and expectations with respect to its
capital and funding plans. Inherent in the forward-looking information and
statements are known and unknown risks, uncertainties and other factors beyond
the Company's ability to control or predict, such as anticipated sales, the
economy generally, intellectual property matters, third party contractual risks,
and demand for the Company's products, which give rise to the possibility that
the Company's predictions, forecasts, expectations or conclusions will not prove
to be accurate, that its assumptions may not be correct and that the Company's
plans, objectives and statements will not be achieved. Actual results or
developments may differ materially from those contemplated by the
forward-looking information and statements. Consequently, undue reliance should
not be placed on such forward-looking statements.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Biosenta Inc.
Chris Bilz
CEO & President
(416) 410 2019


Investor Relations Contact:
Investor Cubed Inc.
Neil Simon
647-258-3311 or 888-258-3323
info@investor3.ca

BIOSENTA (CSE:ZRO)
Historical Stock Chart
From Nov 2024 to Dec 2024

BIOSENTA (CSE:ZRO)
Historical Stock Chart
From Dec 2023 to Dec 2024