Binovi to Close Private Placement of $1.7 Million
Toronto, New York – TheNewswire – October 2, 2020 – Binovi Technologies Corp., (Binovi) (TSXV:VISN) | (OTC:BNVIF), a leader in neuro-vision performance technology, announces the closing of a non-brokered private placement financing (the “Private Placement”) to occur on or around October 6, 2020. 13,345,514 units at $0.1275 per unit have been fully subscribed and funded for gross proceeds of $1,701,553, subject to the approval of the TSXV Venture Exchange. Each unit is comprised of one common share and one share purchase warrant. Each warrant entitles the holder to acquire a further common share at a price of $0.40 per share for a period of 24 months, subject to an acceleration clause.
The Company intends to use the net proceeds from the Private Placement towards the expansion of its platform in to K-12 Education, integration of the Vima Strobe technology, manufacturing of Binovi Touch hardware, and general corporate development and working capital. All securities to be issued pursuant to the Private Placement are subject to a four-month hold period under applicable securities laws in Canada. Insiders of the Company are participating for $204,000.
2020 News Release Highlights
- Binovi Congratulates the Dallas Stars on Their National Hockey League (NHL) Western Conference Championship
- Binovi Technologies Corp Provides Highlights of its Investor Conference Call Held August 11, 2020, and Announces Late Filing of Annual Financial Statements
- Binovi Transforming K-12 Global Education Through Guided Classroom Technology Resources
- White House Fellow (1990-91), Eric Phillips, Joins Binovi Technologies as Strategic Advisor
- Binovi Technologies Secures VIMA Rev Strobe Lenses Through a Strategic Product Acquisition and Announces Private Placement
- Serial Entrepreneur and Former Aurora Cannabis CEO, Terry Booth, Joins Binovi as Executive Chairman
- Binovi Zoom Video Conferencing Integration Supporting 20,000 Vision Performance Professionals Running Remote Binovi Pro Patient Care & Enrolling in Binovi Academy eLearning
- Binovi Ships Over 400 Binovi Touch Units to the Market