Ynvisible Interactive Inc. Announces Exercise of Warrants for Proceeds of $4.4 Million
February 02 2021 - 1:00AM
Business Wire
Ynvisible Interactive Inc. (the "Company" or "Ynvisible")
(TSXV:YNV, OTCQB:YNVYF, FRA:1XNA) is pleased to announce that since
December 1, 2020, it has received proceeds of $4.4 million pursuant
to the exercise of 7,315,473 common share purchase warrants. The
exercised warrants were originally issued in connection with
non-brokered private placement financings completed by Ynvisible on
January 9, 2019, and June 5, 2019, pursuant to which warrants were
issued with an exercise price of $0.60 for periods of three years
(the “Warrants”). At the present time, approximately 80% of
the Warrants have been exercised.
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the full release here:
https://www.businesswire.com/news/home/20210201006044/en/
Ynvisible's electrochromic display
(Photo: Business Wire)
The Company intends to use the proceeds of the warrants
exercised, along with the funds raised from the Company’s recently
completed non-brokered private placement financing of $4.5 million,
for productization, marketing, increasing production capacity, and
general working capital.
“The exercising of the warrants is further validation of our
strategy as we progress forward,” said Michael Robinson, CEO of
Ynvisible.
As at today’s date, a total of 1,663,005 Warrants remain
outstanding. Each Warrant is exercisable to acquire one common
share in the capital of Ynvisible at an exercise price of $0.60. If
all remaining Warrants are exercised, additional proceeds to the
Company will total $997,803.
For information on the warrant exercise procedure, existing
warrant holders interested in exercising their warrants may contact
the Company via email to IR@ynvisible.com and
rmiller@keystonecorp.ca.
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 "Michael Robinson" 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/20210201006044/en/
For further information, please contact: Investor Relations +1
778-683-4324 ir@ynvisible.com
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