VANCOUVER, BC / ACCESSWIRE / May 1, 2020 / Ovation Science Inc. ("Ovation" or the "Company") (OVAT.CN) is pleased to announce a proposed private placement offering of up to 4,000,000 units (each a "Unit") at a price of $0.42 per Unit for total proceeds of up to $1,680,000 (the "Offering"). Each Unit consists of one common share (a "Share") and one half of one share purchase warrant (each a "Warrant"). Each whole Warrant will entitle the holder to purchase an additional share at a price of $0.60 per share for an 18-month term (the "Warrant Term").
The Company will pay a commission of 7% cash and brokers warrants equal to 7% of the amount of units placed to registered brokers who introduce placees. The broker's warrants will be exercisable to purchase an additional share at $0.42 per share for an 18-month term.
The proceeds of the offering will be used for marketing expenditures, inventory production and general corporate purposes.
About Ovation Science Inc.
Ovation Science Inc. is a company that licenses its proprietary topical and transdermal product formulations made with patented Invisicare® skin delivery technology. Invisicare, used in Ovation's topical and transdermal products, enhances the delivery of active ingredients to and through the skin. The Company has developed various product lines powered by Invisicare technology including its newly launched hand sanitizer DermSafe®, which is made without alcohol.
Forward-Looking Statements Information set forth in this news release contains forward-looking statements that are based on assumptions as of the date of this news release. These statements reflect management's current estimates, beliefs, intentions and expectations. They are not guarantees of future performance. Ovation Science Inc. cautions that all forward looking statements are inherently uncertain and that actual results may be affected by a number of material factors, many of which are beyond Ovation Science Inc.'s control.
Neither the Canadian Securities Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.
FOR INVESTOR RELATIONS:
Phone 604.283.0903 ext. 2
FOR BUSINESS DEVELOPMENT & CORPORATE INQUIRIES:
Phone: 604.283.0903 ext. 4
SOURCE: Ovation Science Inc.
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