02.02.21
With an eye on increasing production, marketing and general working capital, Ynvisible Interactive Inc. announced that since Dec. 1, 2020, it has received proceeds of $4.4 million pursuant to the exercise of 7,315,473 common share purchase warrants.
The exercised warrants were originally issued in connection with non-brokered private placement financings completed by Ynvisible on Jan. 9, 2019, and June 5, 2019, pursuant to which warrants were issued with an exercise price of $0.60 for periods of three years. At the present time, approximately 80% of the warrants have been exercised. If all remaining warrants are exercised, additional proceeds to the company will total $997,803.
The company intends to use the proceeds of the warrants exercised, along with the funds raised from the company’s recently completed non-brokered private placement financing of $4.5 million, for productization, marketing, increasing production capacity and general working capital.
“The exercising of the warrants is further validation of our strategy as we progress forward,” said Michael Robinson, CEO of Ynvisible.
The exercised warrants were originally issued in connection with non-brokered private placement financings completed by Ynvisible on Jan. 9, 2019, and June 5, 2019, pursuant to which warrants were issued with an exercise price of $0.60 for periods of three years. At the present time, approximately 80% of the warrants have been exercised. If all remaining warrants are exercised, additional proceeds to the company will total $997,803.
The company intends to use the proceeds of the warrants exercised, along with the funds raised from the company’s recently completed non-brokered private placement financing of $4.5 million, for productization, marketing, increasing production capacity and general working capital.
“The exercising of the warrants is further validation of our strategy as we progress forward,” said Michael Robinson, CEO of Ynvisible.