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ZRO BIOSENTA Inc

0.40
0.00 (0.00%)
Last Updated: 15:43:19
Delayed by 15 minutes
Share Name Share Symbol Market Type
BIOSENTA Inc CSE:ZRO CSE Common Stock
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 0.40 0.32 0.395 0.40 0.40 0.40 500 15:43:19

Biosenta Inc. Announces Closing of Private Placement of 6,522,892 Units

10/10/2013 3:45pm

Marketwired Canada


BIOSENTA INC. (CNSX:ZRO) (the "Company") is pleased to announce that the first
tranche of a private placement of units previously announced by a news release
on September 26, 2013 at a price of $0.15 per unit (the "Offering"), has closed.
The Company issued 6,522,892 units, each unit consisting of one Class A Share
and one half of one Class A Share purchase warrant. Each whole warrant will
entitle the holder to purchase one additional Class A Share in the capital of
the Company (a "Warrant Share") at an exercise price of $0.20 per Warrant Share
to the extent such Warrant is exercised on or before the date that is 18 months
from October 10, 2013. Of the $978,433.80 of units sold, $743,184.62 of the
aggregate subscription price of the units was satisfied by the setoff of
existing debt owed by the Company to the certain subscribers. 


In connection with the issue and sale of the units, the Company issued 248,333
Class A Shares at a deemed issue price per share of $0.15 to satisfy the payment
of $37,250 in finders' fees and issued 124,166 warrants to acquire Class A
shares at a price of $0.20 per share the extent such warrants are exercised on
or before the date that is 18 months from October 10, 2013. 


All securities issued will be subject to a four-month hold period. 

As part of the Offering, Bruce Lewis, the Chairman of the Company, subscribed
for an aggregate of 2,505,230 units and a company controlled by certain
directors of the Company subscribed for an aggregate of 2,260,000 units.
Pursuant to Multilateral Instrument 61-101 - Protection of Minority Security
Holders in Special Transactions ("MI 61-101"), the issuance of units to Mr.
Lewis and the above-noted company constitute "related party transactions". The
Company is exempt from obtaining both a formal valuation and minority
shareholder approval in connection with such issuance of units because neither
the fair market value of the common shares and warrants 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 Inc.'s line of retail anti-microbial products will effectively kill
mould, bacteria and fungi on contact and prevent re-growth. These products
address the demand created by the mounting health and environmental concerns.
Mould can affect the immune system, nervous system, liver, kidneys, blood and
cause brain damage. 


Biosenta will also manufacture and distribute an anti-microbial filler. Calcium
Carbonate is one of the most common fillers used industrially. It is susceptible
like other fillers that hold moisture to attracting mould. Annual global revenue
in the calcium carbonate filler industry approximates 140 billion dollars.
Biosenta will produce anti-microbial filler that performs 'filling' and
'bulking' functions like calcium carbonate. Biosenta's filler product will not
attract moisture and consequently mould infestation. Biosenta's filler with its
anti-microbial high ph core in individual particles will enhance commercial
product life and eradicate a broad spectrum of known bacteria, fungi, algae and
other micro-organisms by suppression of their reproduction.


On behalf of the Board of Directors of Biosenta Inc.

Edward Pardiak, CEO & President

The CNSX has in no way passed upon the merits of the proposed transaction and
has neither approved nor disapproved of the contents of this press release.
Neither the CNSX nor its Regulation Services Provider (as such term is defined
in the policies of the CNSX) accepts responsibility for the adequacy or accuracy
of this release.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Biosenta Inc.
Bruce Lewis
Chairman
(416) 410 2019
1120 Finch Avenue West, Suite 503
Toronto, Ontario M3J 3H7

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