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ZRO BIOSENTA Inc

0.40
0.00 (0.00%)
14 Jun 2024 - Closed
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 0.50 0 16:30:07

Biosenta to Issue Up to $1 Million of 6% Convertible Debentures and Warrants

26/06/2014 4:25pm

Marketwired Canada


BIOSENTA INC. ("Biosenta" or the "Company") (CSE:ZRO), is pleased to announce
that as a result of recent achievements in growing distribution channels, and
other corporate and balance sheet improvements, the Board of Directors has
approved issuing up to $1 million in debentures (the "Debentures") at any time
during the next quarter. Biosenta is pleased to announce today that it has
closed on, and issued, Debentures in the aggregate principal amount of $665,000.


The terms of the Debentures include a term of 2 years, interest payable
quarterly at 6% per annum and, at the option of the Company, a conversion to
equity at 40 cents per common share at any time after the Company's common
shares have traded at 50 cents or higher for 30 or more consecutive trading
days. Upon conversion to common shares, for each share issued, a full warrant
exercisable at $1.00 and having a term of 2 years from the date of conversion
will also be issued.


Proceeds of the Debentures will be used to fund accounts receivables for its
growing sales, ongoing market development expenses related to the launch in the
US of ZeroMold Plus(TM) pending permission being granted by the EPA, and general
working capital purposes.


Upon subscriptions meeting $1 million for this debenture, Bassett Financial
Corporation ("BFC") will have satisfied its agreement to ensure that $1 million
would be funded as a second tranche of financing under the BFC Advisory
Agreement announced March 27, 2014.


"This is a significant milestone for Biosenta as it demonstrates Biosenta is
maturing as a corporation and is earning the trust of its investors to complete
the tasks and milestones that have been planned and announced by the company,"
said Biosenta Chairman, Bruce Lewis. As we continue to succeed at achieving the
milestones that we have set out and communicated to our shareholders on March
27, we believe that our balance sheet will continue to get stronger just as the
company gets stronger and continues to demonstrate a clear focus on the growth
objectives of the company."


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
can cause brain damage.


On behalf of the Board of Directors of Biosenta Inc.

Chris Bilz, CEO & President

The CSE 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 CSE nor its Regulation Services Provider (as such term is defined in the
policies of the CSE) accepts responsibility for the adequacy or accuracy of this
release.


FOR FURTHER INFORMATION PLEASE CONTACT: 
BIOSENTA Inc.
Chris Bilz
CEO & President
(416) 410 2019


Investor Relations contact:
Investor Cubed Inc.
Neil Simon
647-258-3311 or 888-258-3323
info@investor3.ca

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