Ynvisible Interactive Inc. (the "Company" or "Ynvisible")
(TSX-V: YNV, FSE: 1XNA, OTCQB: YNVYF) is excited to strengthen
its Advisory Board with the addition of Seda Evis, a business,
user-centered design and finance leader. By uniting business
expertise, research talent, and financial resources, Ynvisible aims
to build innovative solutions and technology standards that provide
an easy visual interface for the Internet of Things (IoT). Seda
Evis is joining the Ynvisible Advisory Board as Ramin Heydarpour
has joined the Ynvisible Board of Directors as of December
2020.
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Seda Evis is joining the Ynvisible
Advisory Board (Photo: Business Wire)
INDUSTRY LEADERS
Ynvisible has infused the Advisory Board with leaders in private
and academic sectors, specializing in Supply Chain Management,
Packaging, Consumer Insights, Engineering, Business, and
Finance.
Seda Evis joins Mitchell Huang, Adam Laubach, Dr. Rudi
Leuschner, Sal Pellingra, and Tiffany Vasilchik, Dr. Michael
Okoroafor, Dr. Harlan Byker, and Dr. Harri Kopola.
These inspiring professionals work collaboratively with
like-minded experts and organizations to cultivate deeper
relationships between industry, government, and financial partners.
Ultimately, this infusion of new perspectives will transform the
entire Ynvisible value chain.
Michael Robinson, COO of Ynvisible, says, "Ynvisible’s ability
to return shareholder and customer value hinges on our Customer
Experience (CX) and our capacity to rapidly and iteratively build,
measure and learn around our products and services. A robust CX
practice has been shown to deliver double- and triple-digit ROI.
Seda Evis brings a wealth of customer-centered insight that I’m
very excited to integrate to support our continued growth in 2021
and beyond.”
Seda Evis is an award-winning business leader, combining
strategy with design process and user-centered insights leading to
growth. She designs new products, services, businesses that spark
change for Fortune 500 companies such as Amazon, Nike, Toyota,
Philips, GE, Herman Miller, with persistence to see it through from
vision to build. Seda is a Designer-in-Residence at the University
of California San Diego’s DesignLab, led by Don Norman. She’s also
an incoming board member at Design Forward Alliance, a non-profit
that promotes human-centered design as a tool to help advance San
Diego as a premier city for business, education, and enjoyment.
She holds an Urban Design and Planning degree from Middle East
Technical University in Ankara, Turkey, with a minor in
Architectural Conservation and a Masters in Business Administration
from the University of San Diego.
PRIVATE PLACEMENT
Ynvisible announces that it will be closing, subject to
acceptance by the TSX Venture Exchange, a non-brokered private
placement of 12,857,142 Units of the Company (the “Units”)
at $0.35 per Unit to raise gross proceeds of $4,500,000 (the
“Offering”), whereby each Unit shall consist of one common
share in the capital of the Company (“Share”) and one-third
(1/3) of one Share purchase warrant (“Warrant”). Each whole
Warrant, subject to an acceleration provision, will be exercisable
into an additional Share at an exercise price of $0.50 for a period
of 18 months from the date of issuance.
Jani-Mikael Kuusisto, Chief Executive Officer of Ynvisible,
stated, “We are very pleased with the interest in our financing and
to see several institutional investors investing into Ynvisible.
This private placement, pending closing, combined with the recent
exercises of warrants, is set to strengthen our cash position by
more than $5 million. This significantly increases our runway and
allows our team to further accelerate our business with more
resources for customer delivery and customer service, plus an
increased focus on building and monetizing our products
business.”
In connection with the Offering, applicable finders’ fees to
eligible finders will comprise (i) cash commissions in an aggregate
amount of $68,628, and (ii) an aggregate of 452,280 finders’ units.
The finders’ units will bear the same terms and conditions of the
Units, consisting of one Share and one-third (1/3) of one Warrant,
exercisable into an additional Share at an exercise price of $0.50
for a period of 18 months from the date of issuance.
All securities issued pursuant to the Offering shall be subject
to a statutory four-month hold period from the date of closing in
accordance with applicable Canadian securities laws. The Offering's
net proceeds will be used for general working capital,
productization, marketing, and increasing production capacity.
EXERCISING OF WARRANTS
At the commencement of Ynvisible’s FY2020 Q3, the Company had
8,978,478 Warrants issued and outstanding, whereby each Warrant was
exercisable into a Share at an exercise price of $0.60. These
Warrants were issued pursuant to private placement financings that
closed in January and June 2019. A total of 1,027,505 of these
Warrants have recently been exercised generating proceeds of
$616,503.
ABOUT YNVISIBLE INTERACTIVE INC.
Ynvisible aims to be a leading company in the emerging printed
and flexible electronics sector. Given the cost and
power-consumption advantages over conventional electronics, printed
electronics are a key enabler of mass adoption of the Internet of
Things ("IoT") and smart objects. Ynvisible has the experience,
know-how and intellectual property in electrochromic materials,
inks, and systems. Ynvisible's interactive printed graphics
solutions solve the need for ultra-low power, mass deployable,
& easy-to-use electronic displays and indicators for everyday
smart objects, IoT devices, and ambient intelligence (intelligent
surfaces). Ynvisible offers a mix of services, materials and
technology to brand owners developing smart objects and IoT
products. Additional information on Ynvisible is available at
www.ynvisible.com
ON BEHALF OF THE BOARD OF DIRECTORS
"Jani-Mikael Kuusisto," CEO,
Ynvisible Interactive Inc.
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.
Forward-Looking Statements
This news release contains forward-looking statements.
Forward-looking statements address future events and conditions and
therefore involve inherent risks and uncertainties. All statements,
other than statements of historical fact, that address activities,
events or developments the Company believes, expects or anticipates
will or may occur in the future, including, without limitation,
statements about the Company's forecast of sales, cost of sales,
operating expenses and income from other sources; the Company's
business strategy, plans and outlooks; the future financial or
operating performance of the Company; and future marketing and
operating plans are forward-looking statements. Forward-looking
statements are subject to a number of risks and uncertainties that
may cause the actual results of the Company to differ materially
from those discussed in the forward-looking statements and, even if
such actual results are realized or substantially realized, there
can be no assurance that they will have the expected consequences
to, or effects on, the Company. Factors that could cause actual
results or events to differ materially from current expectations
include, among other things: the impact of COVID-19; risks and
uncertainties related to additional costs being subsequently
identified and the allocation of costs between reporting periods;
and the possibility that the actual financial results will not be
consistent with the Company's expectations. Actual results may
differ materially from those currently anticipated in such
statements. Readers are encouraged to refer to the Company's public
disclosure documents for a more detailed discussion of factors that
may impact expected future results. The Company undertakes no
obligation to publicly update or revise any forward-looking
statements, unless required pursuant to applicable laws.
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version on businesswire.com: https://www.businesswire.com/news/home/20201230005293/en/
"Jani-Mikael Kuusisto," CEO, Ynvisible Interactive Inc. Investor
Relations +1 778-683-4324 ir@ynvisible.com
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