Free Submission Public Relations & NewsPR-inside.com
Home
Deutsch English

Business

Xylitol Canada Announces Closing of $2 Million Private Placement


Print article Print article
© Marketwire 2013
2013-01-10 22:44:27 -

TORONTO, ONTARIO -- (Marketwire) -- 01/10/13 -- Xylitol Canada Inc. ("Xylitol Canada", or the "Company") (TSX VENTURE:XYL) is pleased to announce today that it has closed a private placement of 8,888,888 units (the "Units") at a price of $0.225 per Unit for aggregate gross proceeds of $2,000,000 (the "Offering"). Each Unit is comprised of one common share and one-half of one common share purchase warrant, each whole warrant entitles the holder to acquire one additional common share at a price of $0.375 for a period of 24 months following the closing date of the Offering.



Pursuant to the Offering, BayFront Capital Partners Ltd. received 711,111 finder's warrants, each such warrant entitling the holder to acquire one common share at a price of $0.375 for a period of 24 months following the closing date of the Offering.


Proceeds from the Offering will be used (i) to purchase inventory for existing orders and to launch new product lines; (ii) for research and development; and (iii) for general working capital purposes.


All securities issued pursuant to the Offering are subject to a hold period of four months from the closing date in accordance with the rules and policies of the TSX Venture Exchange and applicable Canadian securities laws.


About Xylitol Canada Inc.


Xylitol Canada markets xylitol and xylitol based-products and is focused on becoming a major low-cost manufacturer of xylitol and related products, serving the global market from operations in North America.


Xylitol Canada's business strategy is to leverage novel proprietary technology and processes to become North America's premier manufacturer of low cost, high quality xylitol from readily available environmentally-sustainable biomass. Xylitol is an all-natural sweetener which is marketed globally including Canada and the United States and is accepted by the American Food and Drug Administration, the World Health Organization and the American Dental Association. Xylitol contains 75% less carbohydrates and 40% less calories than sugar, has a myriad of oral health benefits including the prevention of tooth decay and is safe for diabetics. To date, wider spread use of xylitol has been limited by the lack of a reliable, low cost, high quality supplier.


Neither TSX Venture Exchange Inc. nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.


Contacts:

Xylitol Canada Inc.

Andrew Reid

President and CEO

(416) 288-1019
areid@xylitolcanada.com :



Press Information:




Contact Person:


Disclaimer: (c) 2014 Market Wire. All of the press releases contained herein are protected by copyright and other applicable laws, treaties and conventions. Information contained in the releases is furnished by Market Wire's, who warrant that they are solely responsible for the content, accuracy and originality of the information contained therein. All reproduction, other than for an individual user's personal reference, is prohibited without prior written permission.
Latest News
Read the Latest News
www.newsenvoy.com

 


Terms & Conditions | Privacy | About us | Contact PR-inside.com