Brisio Innovations Announces Private Placement

Brisio Innovations Announces Private Placement
  
 

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Feb 28, 2014) - Brisio Innovations Inc. (CSE:BZI) (the "Company"), today announces that it intends to complete a non-brokered private placement financing (the "Financing") of up to 833,333 units (each, a "Unit") at a price of $0.30 per Unit for gross proceeds of up to $250,000. Each Unit will consist of one common share of the Company (each, a "Share") and one-half of one share purchase warrant (each, a "Warrant"). Each whole Warrant will entitle the holder thereof to purchase one additional Share at a price of $0.45 per Share for a period of one year from closing of the Financing, subject to an acceleration provision whereby, in the event that the Shares trade above $0.60 per Share for a period of ten consecutive trading days, the Company may accelerate the expiry date of the Warrants, to a date that is thirty days after the completion of such period.

The proceeds of the Financing will be used for general working capital. Finders' fees may be payable in connection with the Financing in accordance with the policies of the Canadian Securities Exchange.

The Company also announces today that it has granted stock options to certain of its directors, officers and consultants to purchase a total of 300,000 common shares of the Company pursuant to the terms of the Company's stock option plan. All of the options are exercisable at a price of $0.30 per share for five years.

About the Company

Brisio Innovations is focused on the acquisition, development and marketing of software applications for mobile computing devices, such as smart phones, tablets and wearable computers.

On behalf of the Board

Paul Andreola, President, CEO and Director

Disclaimer for Forward-Looking Information

Certain statements in this press release related to the proposed Financing are forward-looking statements and are prospective in nature. Forward-looking statements are not based on historical facts, but rather on current expectations and projections about future events, and are therefore subject to risks and uncertainties which could cause actual results to differ materially from the future results expressed or implied by the forward-looking statements. These statements generally can be identified by the use of forward-looking words such as "may", "should", "will", "could", "intend", "estimate", "plan", "anticipate", "expect", "believe" or "continue", or the negative thereof or similar variations. Such statements are qualified in their entirety by the inherent risks and uncertainties surrounding the Company's ability to complete the Financing and the use of proceeds thereof. Such forward-looking statements should therefore be construed in light of such factors, and the Company is not under any obligation, and expressly disclaims any intention or obligation, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

Brisio Innovations Inc.Paul AndreolaPresident, CEO and Director(604) [e-mail]