BROSSARD, QUÉBEC--(Marketwire - Feb. 16, 2012) - Biotonix (2010) Inc. (TSX VENTURE:BTX) ("Biotonix"), a company offering innovative postural health solutions, announces that it proposes to issue, by way of a private placement financing without broker to qualified investors, up to 4,000,000 units at $0.075 CAD per unit for a maximum amount of CAD $300,000.
The Company expects the closing of the private placement to occur on or around March 29, 2012.
Each unit will be comprised of one common share of Biotonix (a "Common Share") and one-half of one common share purchase warrant (a "Warrant"). Each whole Warrant will entitle the holder thereof to purchase one Common Share at CAD $0.115 for a period of 60 months following the closing of the offering. The units will be offered to accredited investors in the Provinces of Quebec, Ontario, British Columbia and Alberta. The securities issued pursuant to the offering will be subject to a 4-month hold period and the offering will be subject to regulatory approvals.
The net proceeds of this offering will be used to defray expenses related to the reverse takeover of Biotonix by The Atman Co. (see press release dated December 22, 2011).
Biotonix will not incur any brokerage fees in connection with this financing.
Biotonix (TSX VENTURE:BTX) offers innovative health solutions for posture correction and fitness using a web-based imaging software technology. For more information please visit www.biotonix.com.
BIOTONIX'S FORWARD-LOOKING STATEMENTS
This press release contains forward-looking statements that reflect the Company's current expectation regarding future events. There is a risk that expectations and forward looking statements will not prove to be accurate. Readers are cautioned not to place undue reliance on these forward looking statements as they involve risks and uncertainties, which could make actual results differ materially from those projected herein and depend on a number of factors including, but not limited to, no history of profitability, future financing, intellectual property and patents, key personnel, competitive marketplace, technology obsolescence, share price volatility and other risks detailed from time to time in the Company's filings. While Biotonix anticipates that subsequent events and developments may cause its views to change, Biotonix specifically disclaims any obligation to update these forward looking statements, unless obligated to do so by applicable securities laws
Neither TSX Venture Exchange 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.