VANCOUVER, BRITISH COLUMBIA--(Marketwired - May 6, 2016) - TerraBioGen Technologies Inc. (TSX VENTURE:TBG), a developer of proprietary high-value agriculturally bioactive products, announces that it has closed a private placement.
The private placement is for 70,002 units at $6.00 per unit for proceeds of $420,012. Each unit consists of one common share and one warrant exercisable at $7.50 per share for 5 years.
These funds will be used to enhance the Company's commercialization efforts through investment in sales and marketing, further product development, field trials, collaboration development, and securing intellectual property rights.
TerraBioGen Technologies Inc. is a developer of innovative, proprietary, high-value, environmentally sustainable bioproducts and biostimulants that improve crop health and yields, and increase abiotic and biotic stress tolerance in agricultural and horticultural crops. The Company is committed to research and development to continue to improve the effectiveness of its technologies, the quality of its products, and the creation of new product lines. Further, the Company is taking steps to secure intellectual property rights to these bioproducts and to formulate them in order to fully commercialize their potential.
This news release contains certain statements that may be deemed "forward-looking" statements. Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Although TerraBioGen believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in forward looking statements. Forward looking statements are based on the beliefs, estimates and opinions of TerraBioGen's management on the date the statements are made. Except as required by law, TerraBioGen undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.