VANCOUVER, BC – (Marketwired – July 07, 2017) – NeutriSci International Inc. (the “Company” or “NeutriSci”) (TSX VENTURE: NU) (OTCQB: NRXCF) (FRANKFURT: 1N9), the innovator and pioneer behind neuenergy®, is pleased to announce that it will immediately implement an incentive program designed to encourage the early exercise of up to 1,722,333 warrants issued on September 30, 2015 (the “September 2015 Warrants“); and 13,013,000 warrants issued on November 25, 2015 (the “November 2015 Warrants“); and the exercise of up to 2,220,000 warrants issued on July 25, 2016 (the “July 2016 Warrants“); and the exercise of up to 1,667,000 warrants issued on September 30, 2016 (the “September 2016 Warrants“); and the exercise of up to 15,000,000 warrants issued on November 18, 2016 (the “November 2016Warrants“); and the exercise of up to 3,333,000 warrants issued on May 2, 2017 (the “May 2017 Warrants” and together with the September 2015, November 2015, July 2016, September 2016, and November 2016 Warrants, the “Original Warrants“).
Each September 2015 Warrant and November 2015 Warrant is exercisable to purchase one common share of the Company (a “Share”) at 25 cents per share until a date that is two years from issuance. Each July 2016 Warrant is exercisable to purchase one Share at 18 cents per share until a date that is 1 year from issuance. Each September 2016 Warrant is exercisable to purchase one Share at 18 cents per share until a date that is 5 years from issuance. Each November 2016 Warrant is exercisable to purchase one Share at 18 cents per share until a date that is 2 years from issuance. Each May 2017 Warrant is exercisable to purchase one Share at 20 cents per share until a date that is 18 months from issuance. Each holder of Original Warrants will from the date of this announcement, be entitled to exercise his or her Original Warrants at a price of 10 cents per share for a period of nineteen days expiring July 25, 2017.
The proceeds from the early exercise of the warrants will be used primarily to accelerate the Company’s marketing and sales initiatives for neuenergy®, and to further advance its joint venture, Ambarii Trade Corporation.
A number of Warrant holders, including several of the Company’s institutional investors, have already agreed to immediately exercise their warrants.
Pursuant to the warrant incentive program, if a holder of Original Warrants exercises his/her Original Warrants before 5:00 p.m. (Pacific Time) on or before July 25, 2017, such holder, will receive one Share of the Company for each Original Warrant exercised at ten cents per share.
NeutriSci President, Glen Rehman stated: “The participation in this incentive program by our valued shareholders, led by the continued support of our biggest institutional stakeholders further exemplifies their commitment to the corporate direction and the continued expansion of neuenergy.”
If a holder of Original Warrants does not exercise his or her outstanding Original Warrants on or before July 25, 2017 (or only partially exercises), the holder’s remaining Original Warrants will continue to be exercisable to purchase shares of the Company on their original terms.
The warrant incentive program is subject to the approval of the TSX Venture Exchange. The Company will send a notice to the holders of the Original Warrants outlining the details of the incentive program.
To find out more about neuenergy®, please visit www.getneuenergy.com.
On Behalf of the Board of Directors of
NEUTRISCI INTERNATIONAL INC.
NeutriSci International Inc.
Tel: (403) 264-6320
About NeutriSci International Inc.: NeutriSci specializes in the innovation, production and formulation of nutraceutical products. Established in 2009, NeutriSci is building sustainable sales models with Convenience, Chain Drug, and Mass Market and Supermarket retailers for neuenergy®, the Company’s natural energy and focus supplement that has at its core, the beneficial effects of blueberries.
Neuenergy® contains a unique patented combination of blueberries (pterostilbene) and naturally derived caffeine, and is a revolutionary energy tab designed to deliver enhanced focus and mental clarity with no sugar, no calories and no crash associated with typical energy products. To find out more about neuenergy®, please visit www.getneuenergy.com.
With the recent formation of Ambarii, a joint venture partnership with Lexaria Bioscience Corp., NeutriSci is expanding its reach into the burgeoning cannabinoid industry.
For more information, please visit: www.neutrisci.com or www.ambariicorp.com.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release may include forward-looking statements that are subject to risks and uncertainties. All statements within, other than statements of historical fact, are to be considered forward looking. Although the Company 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 or developments may differ materially from those in forward-looking statements. Factors that could cause actual results to differ materially from those in forward- looking statements include market prices, exploitation and exploration successes, continued availability of capital and financing, and general economic, market or business conditions. There can be no assurances that such statements will prove accurate and, therefore, readers are advised to rely on their own evaluation of such uncertainties. We do not assume any obligation to update any forward-looking statements except as required under the applicable laws.
Statements in this press release have not been evaluated by the Food and Drug Administration. Products or ingredients are not intended to diagnose, treat, cure or prevent any disease.