VANCOUVER, British Columbia, March 09, 2016 (GLOBE NEWSWIRE) — BioMark Diagnostics Inc. (“BioMark” or the “Company”) (CSE:BUX) (FSE:20B) (OTCQB:BMKDF) is pleased to announce a non-brokered Private Placement for up to 4,000,000 Units at a price of $0.15 per Unit to raise gross proceeds of up to $600,000. Each Unit will consist of one common share of BioMark and one-half of one share purchase warrant. One whole share purchase warrant will entitle the holder thereof to purchase one common share of BioMark at $0.30 per share for a period of one year from the closing date of the private placement.
President and CEO of BioMark Rashid Ahmed states: “This is an exciting time for BioMark as we work towards completing our formative phase 3 clinical trial utilizing our unique, non-invasive early cancer detection technology. We anticipate 2016 to be a milestone year for the Company with the completion of a clinical trial and the commercialization of our early detection platform.”
The proceeds of the private placement will be used for the continuation of the company’s phase 3 clinical trials, marketing initiatives and general working capital. The securities in the private placement will be subject to a holding period of four months and one day from the closing date of the private placement. Certain Insiders, Directors and Officers may subscribe for a portion of this placement. Finder’s fees may be payable.
The warrants are subject to an accelerated expiry provision where, if at any time after the closing date of the offering of the units, the closing price of the common share is $0.50 or higher for a period of 10 consecutive trading days, the company may provide notice by way of press release to the holder of the warrants of the early expiry of the warrants. Thereafter the warrants shall expire on that date that is 30 days from the date that notice is given.
About BioMark Diagnostics Inc.
BioMark Diagnostics is developing proprietary, non-invasive, and accurate cancer diagnostic solutions, which can help detect, monitor and assess treatment for cancer early and cost effectively. The technology can also be used for measuring response to treatment and potentially for serial monitoring for cancer survivors. For more information please visit the company website at: www.biomarkdiagnostics.com
On Behalf of the Board of Directors
BIOMARK DIAGNOSTICS INC.
“Rashid Ahmed Bux”
President and CEO
Contact Information
Rashid Ahmed Bux – President & CEO
BioMark Diagnostics Inc.
Tel. 604-282-6567
Email: [email protected]
Forward-Looking Information:
This press release may include forward-looking information within the meaning of Canadian securities legislation, concerning the business of BioMark. Forward-looking information is based on certain key expectations and assumptions made by the management of BioMark. Although BioMark believes that the expectations and assumptions on which such forward-looking information is based are reasonable, undue reliance should not be placed on the forward-looking information because BioMark can give no assurance that they will prove to be correct. Forward-looking statements contained in this press release are made as of the date of this press release. BioMark disclaims any intent or obligation to update publicly any forward-looking information, whether as a result of new information, future events or results or otherwise, other than as required by applicable securities laws.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities described herein in the United States. The securities described herein have not been and will not be registered under the United States Securities Act of 1933, as amended, or any applicable securities laws or any state of the United States and may not be offered or sold in the United States or to the account or benefit of a person in the United States absent an exemption from the registration requirements.
The CSE has not reviewed, approved or disapproved the content of this press release.