YNVISIBLE ANNOUNCES COMPLETION OF $500,000 NON-BROKERED PRIVATE PLACEMENT
// NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES //
Vancouver, Canada, November 4, 2024 - Ynvisible Interactive Inc. (the “Company” or “Ynvisible”) (TSX-V: YNV, FSE: 1XNA) announces that further to its release of October 18, 2024, it has closed its non-brokered private placement financing of common shares (the “Private Placement”).
The Company received subscriptions for the entire Private Placement of 5,000,000 common shares of the Company (the “Shares”, and each, a “Share”) at a price of $0.10 per Share, raising aggregate gross proceeds of $500,000.
Proceeds from the Private Placement will be used as working capital and for general corporate purposes. All Shares issued by Ynvisible pursuant to the Private Placement are subject to a statutory hold period expiring March 5, 2025, being four months and one day from the date of closing of the Private Placement in accordance with applicable Canadian securities laws. The Private Placement remains subject to final acceptance of the TSX Venture Exchange.
The Chief Executive Officer and a director of the Company participated in the Private Placement by purchasing an aggregate of 450,000 Shares. Such participation constitutes a “related party transaction” within the meaning of Multilateral Instrument 61-101 Protection of Minority Security Holders in Special Transactions (“MI 61-101”). The Company has relied on the exemptions from the formal valuation and minority shareholder approval requirements of MI 61-101 contained in sections 5.5(a) and 5.7(1)(a) of MI 61-101 in respect of related party participation in the Private Placement as neither the fair market value of the subject matter of, nor the fair market value of the consideration for, the transaction, insofar as it involves the related parties, exceeded 25% of the Company’s market capitalization. The Company did not file a material change report more than 21 days before the closing of the Private Placement as the details of the participation therein by related parties of the Company had not been determined until shortly prior to closing of the Private Placement.
The securities described herein have not been 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 absent registration or compliance with an applicable exemption from the registration requirements of the U.S. Securities Act and applicable state securities laws.
About Ynvisible
Ynvisible is disrupting the low-cost and ultra-low-power display industry thanks to the latest advantages in sustainable electronics and roll-to-roll printing production. Ynvisible's printed e-paper displays are ideal for low-power and cost-sensitive applications, such as digital signage, smart monitoring labels for supply chain and logistics, visual indicators for medical and diagnostics, or retail labels and signage. Ynvisible has experience, know-how, and intellectual property in electrochromic materials, inks, and systems, and offers a mix of services, technology and products 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
Ramin Heydarpour
CEO and Executive Chairman
Ynvisible Interactive Inc.
For further information, please contact:
Investor Relations
+1 778-683-4324
ir@ynvisible.com
Public Relations
pr@ynvisible.com
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 certain statements that may be deemed “forward-looking” statements. Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words “expects”, “plans”, “anticipates”, “believes”, “intends”, “estimates”, “projects”, “potential” and similar expressions, or that events or conditions “will”, “would”, “may”, “could” or “should” occur. Although Ynvisible Interactive Inc. believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in forward looking statements.
Forward-looking statements in this news release include, but are not limited to, statements with respect to the expectations of management regarding the use of proceeds of the Private Placement. There can be no assurance that such statements will prove to be accurate and actual results, and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's expectations include: the Company not being able to complete the Private Placement on terms favourable to the Company or at all; that the TSX Venture Exchange may not accept the Private Placement; that the proceeds of the Private Placement may not be used as stated in this news release; the availability of capital and financing on acceptable terms, general economic, market or business conditions, uninsured risks, regulatory changes, delays or inability to receive required approvals, and other risks detailed herein and from time to time in the filings made by the Company with securities regulators, including those described in the Company’s most recently filed Management’s Discussion and Analysis.
Forward-looking statements are based on the beliefs, estimates and opinions of the management of Ynvisible Interactive Inc. on the date the statements are made. Except as required by law, Ynvisible Interactive Inc. undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.
Press releases, success stories, and educational content from Ynvisible University.
Learn more