NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR
DISSEMINATION IN THE UNITED STATES
Ynvisible Interactive Inc. (the “Company” or “Ynvisible”)
(TSX-V: YNV, FSE: 1XNA, OTCQB: YNVYF) is pleased to announce that,
further to its news release dated May 14, 2021, it has closed the
private placement of its common shares (“Common Shares”) and
warrants to purchase Common Shares (“Warrants”) to institutional
investors for aggregate gross proceeds to the Company of
approximately Cdn$12 million (the “Private Placement”). Pursuant to
the Private Placement, the Company issued 19,992,003 Common Shares
and Warrants to purchase 19,992,003 Common Shares at a purchase
price of Cdn$0.61 per Common Share and associated Warrant. Each
Warrant entitles the holder thereof to purchase one Common Share at
an exercise price of Cdn$0.76 per Common Share at any time prior on
or prior to May 18, 2024.
A.G.P./Alliance Global Partners (the “Agent”) acted as the
exclusive placement agent for the private placement in the United
States.
This financing supports Ynvisible’s “2023 Transformation &
Growth Strategy” focused on speed to market of differentiated and
added value Internet of Things (“IoT”) solutions.
“This is Ynvisible’s most significant financing to date. It
allows us to invest in and focus on our technology, accelerate the
development of value-added IoT solutions for our customers, and,
most critically, expand our engagement with US-based customers and
shareholders,” said Michael Robinson, CEO of Ynvisible.
“A.G.P supported our financing by engaging U.S.-based, and
international institutional investors focused on the IoT, emerging
technology, medical and diagnostic sectors. These new shareholders
are aligned with Ynvisible’s strategic business verticals,” Mr.
Robinson continued.
The Common Shares and Warrants issued under the Private
Placement were qualified by way of a prospectus supplement under
the Company's base shelf prospectus dated May 10, 2021
(collectively, the “Prospectus Supplement”) which was filed in each
of the provinces of Canada, except Québec, copies of which are
available under the Company’s profile at www.sedar.com. In the
United States, the Common Shares, Warrants and the shares issuable
upon the exercise of the Warrants were offered on a private
placement basis pursuant to exemptions from the registration
requirements of the United States Securities Act of 1933, as
amended (the “U.S. Securities Act”), and certain other
jurisdictions in accordance with applicable securities laws.
As illustrated in the 2020 year-end financials presented on
April 30, 2021, the Company has continued to see steady growth in
income from clients.
“In 2020, we took bold operational steps to realize the
transformation from a primarily contracted research organization
into an integrated manufacturer and solutions provider, with a
dedicated sales team,” added Michael Robinson, CEO of
Ynvisible.
“Our focus continues to be on delivering recurring revenue,
growing and supporting our Americas-based customers, and
integrating Ynvisible’s display technology into fulfilling demands
for differentiated and added-value IoT solutions,” Mr. Robinson
continued.
The Agent received (i) a cash commission equal to approximately
$853,658, and (ii) 999,600 warrants (the “Agent’s Warrants”). Each
Agent’s Warrant entitles the holder thereof to acquire one Common
Share at an exercise price of Cdn$0.61 per Common Share at any time
prior on or prior to May 18, 2024.
The net proceeds of the Private Placement are expected to be
used by the Company for working capital and general corporate
purposes.
No securities were offered or sold to Canadian residents.
This news release shall not constitute an offer to sell or a
solicitation of an offer to buy nor shall there be any sale of any
of the securities in any jurisdiction in Canada in connection with
the Private Placement. This news release shall not constitute an
offer to sell or the solicitation of an offer to buy nor shall
there be any sale of the securities in any jurisdiction in which
such offer, solicitation or sale would be unlawful prior to
registration or qualification under the securities laws of any such
jurisdiction. This news release shall not constitute an offer of
securities for sale in the United States. The securities have not
been, nor will they be, registered under the U.S. Securities Act
and such securities may not be offered or sold within the United
States absent registration under U.S. federal and state securities
laws or an applicable exemption from such U.S. registration
requirements.
ABOUT YNVISIBLE INTERACTIVE INC.
Ynvisible aims to be a leading company in the emerging printed
and flexible electronics sector. Given the cost and power
consumption advantages over conventional electronics, printed
electronics are a key enabler of mass adoption of the Internet of
Things (“IoT”) and smart objects. Ynvisible has the experience,
know-how and intellectual property in electrochromic materials,
inks, and systems. Ynvisible's interactive printed graphics
solutions solve the need for ultra-low power, mass deployable,
& easy-to-use electronic displays and indicators for everyday
smart objects, IoT devices, and ambient intelligence (intelligent
surfaces). Ynvisible offers a mix of services, materials and
technology 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
"Michael Robinson," CEO, Ynvisible Interactive Inc.
Forward-Looking Statements
This news release contains forward-looking statements.
Forward-looking statements contained in this news release include
statements regarding the use of proceeds from the Private
Placement. Forward-looking statements consist of statements that
are not purely historical, including any statements regarding
beliefs, plans, expectations or intentions regarding the future.
Such information can generally be identified by the use of
forwarding looking wording such as “may”, “expect”, “estimate”,
“anticipate”, “intend”, “believe” and “continue” or the negative
thereof or similar variations. The reader is cautioned that
assumptions used in the preparation of any forward-looking
information may prove to be incorrect. Events or circumstances may
cause actual results to differ materially from those predicted, as
a result of numerous known and unknown risks, uncertainties, and
other factors, many of which are beyond the control of the Company,
including but not limited to, market and other conditions,
volatility in the trading price of the Common Shares, business,
economic and capital market conditions; the ability to manage
operating expenses, which may adversely affect the Company’s
financial condition; the ability to remain competitive as other
better financed competitors develop and release competitive
products; regulatory uncertainties; access to equipment; market
conditions and the demand and pricing for products; Ynvisible’s
relationships with its customers and business partners; Ynvisible’s
ability to successfully release new products in a timely manner
that meet customers’ needs; the ability to attract, retain and
motivate qualified personnel; competition in the industry; the
impact of technology changes on the products and industry; failure
to develop new and innovative products; the ability to successfully
maintain and enforce our intellectual property rights and defend
third-party claims of infringement of their intellectual property
rights; the impact of intellectual property litigation that could
materially and adversely affect the business; the ability to manage
working capital; and the dependence on key personnel. Ynvisible may
not actually achieve its plans, projections, or expectations. Such
statements and information are based on numerous assumptions
regarding present and future business strategies and the
environment in which the Company will operate in the future,
including the demand for its products, that there will be no
regulation or law that will prevent the Company from operating its
business, anticipated costs, the ability to secure sufficient
capital to complete its business plans and the ability to achieve
its goals. Given these risks, uncertainties and assumptions, you
should not place undue reliance on these forward-looking
statements.
Forward-looking statements contained in this news release are
expressly qualified by this cautionary statement. The reader is
cautioned not to place undue reliance on any forward-looking
information. The forward-looking statements contained in this news
release are made as of the date of this news release. Except as
required by law, the Company disclaims any intention and assumes no
obligation to update or revise any forward-looking statements,
whether as a result of new information, future events or otherwise.
Additionally, the Company undertakes no obligation to comment on
the expectations of, or statements made by third parties in respect
of the matters discussed above.
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of
this release.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20210519005342/en/
Investor Relations Elyssia Patterson +1 778-683-4324
ir@ynvisible.com
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