VANCOUVER, BC / ACCESSWIRE / February 7, 2017 / CVR Medical Corp. CVR Medical Corp. (TSX.V:CVM) (FRANKFURT: B3BN) (OTCQB: CRRVF) (“CVR Medical“) is pleased to announce that, due to strong demand, the Company has increased the size of its previously announced private placement financing to 7.58 million units (the “Units”), at a price of $0.33 per unit, for aggregate gross proceeds to the Company of approximately $2.5 million (the “Financing”). Each unit is comprised of one common share (“Common Share”) and one half of one common share purchase warrant of the Company. Each whole warrant will entitle the holder thereof to purchase one Common Share at a price of $0.70 for a period of eighteen months following the closing of the Financing. The Company intends to use the net proceeds of the Offering for ongoing working capital requirements relating to the Joint Venture described below. The Company may pay broker commissions or finder’s fees to of up to 6.0% in cash and 6.0% in warrants.
Completion of the Financing is subject to Exchange acceptance, and all securities issued pursuant to the Financing will be subject to a hold period of four months as required under applicable securities legislation.
The securities referred to herein will not be or have not been registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements.
For additional information on the organization, leadership, and current news please visit the newly launched company website www.CVRMed.com
About CVR Medical
CVR Medical is a company that is involved in an equal parts joint venture with CVR Global Inc. (the “Joint Venture”). The Joint Venture operates in the medical industry focused on the commercialization of a proprietary subsonic, infrasonic, and low frequency sound wave analysis technology and has patents to a diagnostic device designed to detect and measure carotid arterial stenosis. CVR Medical is managed by a proven technical team. CVR Medical trades on the TSX Venture Exchange under the symbol CVM.
For further information contact:
Brisco Capital Partners Corp.
Scott Koyich, President
Telephone: (403) 262-9888