Ynvisible Interactive Inc is pleased to announce that since December 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 January 9, 2019, and June 5, 2019, pursuant to which warrants were issued with an exercise price of $0.60 for periods of three years (the "Warrants"). At the present time, approximately 80% of the Warrants have been exercised.
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.
As of today's date, a total of 1,663,005 Warrants remain outstanding. Each Warrant is exercisable to acquire one common share in the capital of Ynvisible at an exercise price of $0.60. If all remaining Warrants are exercised, additional proceeds to the Company will total $997,803.
For information on the warrant exercise procedure, existing warrant holders interested in exercising their warrants may contact the Company via email to IR@ynvisible.com and email@example.com.
About Ynvisible Interactive Inc
Ynvisible aims to be a leading company in the emerging printed and flexible electronics sector. Given the cost and power-consumption advantages over conventional electronics, printed electronics are a key enabler of mass adoption of the Internet of Things ("IoT") and smart objects. Ynvisible has the experience, know-how and intellectual property in electrochromic materials, inks, and systems. Ynvisible's interactive printed graphics solutions solve the need for ultra-low power, mass deployable, & easy-to-use electronic displays and indicators for everyday smart objects, IoT devices, and ambient intelligence (intelligent surfaces). Ynvisible offers a mix of services, materials and technology to brand owners developing smart objects and IoT products. Additional information on Ynvisible is available at www.ynvisible.com
For further information, please contact:
Source: Ynvisible Interactive Inc