VANCOUVER, British Columbia, June 29, 2017 (GLOBE NEWSWIRE) -- TerraBioGen Technologies Inc., a developer of proprietary high-value agriculturally bioactive products, announces that it has closed a private placement.
The private placement is for 192,000 units at $3.00 per unit for proceeds of $576,000. Each unit consists of one common share and one warrant exercisable at $5.00 per common share for 5 years.
These funds will be used to further the company’s internal research and development, continue collaboration with its university partners, and enhance commercialization efforts through it next generation formulations and cooperative field trials.
About TerraBioGen
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.
For more information, please contact:
| Blair Heffelfinger | Tanya Sedlacek | |||
| President & CEO | Controller & Corporate Secretary | |||
| TerraBioGen Technologies Inc. bheffelfinger@terrabiogen.com | TerraBioGen Technologies Inc. tsedlacek@terrabiogen.com | |||
| (604) 444-1023 ext 316 | (604) 444-1023 ext 306 | |||
| (604) 444-1043 fax | (604) 444-1043 fax |
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.