Elixxer announces closing of $2,800,000 funding by Strategic Investor
MONTREAL, Nov. 22, 2019 (GLOBE NEWSWIRE) — Elixxer Ltd. (TSX-V: ELXR; OTCQB: ELIXF) (“Elixxer” or the “Corporation”) is pleased to announce that it has now closed its previously announced non-brokered private placement with a strategic investor for gross proceeds of $2,800,000. Pursuant to the private placement, the Corporation issued 35,000,000 units at a price of $0.08 each. Each unit consists of one common share of the Corporation and one common share purchase warrant. Each warrant entitles the holder thereof to acquire an additional common share of the Corporation at a price of $0.10 per share for a period of three years. All securities issued pursuant to the private placement are subject to a hold period of four months and one day from the date of issuance.
Mazen Haddad, CEO, states “We are pleased to close this financing quickly and will update the market on corporate developments in the coming weeks.”About Elixxer Ltd. (www.Elixxer.com)ELXR Ltd. is a Canadian incorporated public company listed on the TSX Venture Exchange (TSXV: ELXR) and the US OTC-QB exchange (OTCQB: ELIXF).Through its partners ELXR presently will has significant interests in Australia, Jamaica, Switzerland, Italy and Canada.For further information please contact:President, John McMullen, +1-416-803-0698, [email protected]
Caution Regarding Press ReleasesNeither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.Notice Regarding Forward Looking StatementsThis press release may contain forward-looking statements with respect to Elixxer and its operations, strategy, investments, financial performance and condition. These statements can generally be identified by use of forward-looking words such as “may”, “will”, “expect”, “estimate”, “anticipate”, “intends”, “believe” or “continue” or the negative thereof or similar variations. The actual results and performance of Elixxer could differ materially from those expressed or implied by such statements. Such statements are qualified in their entirety by the inherent risks and uncertainties surrounding future expectations. Some important factors that could cause actual results to differ materially from expectations include, among other things, general economic and market factors, competition, government regulation and the factors described under “Risk Factors and Risk Management” in Elixxer’s most recent Management’s Discussion and Analysis filed on SEDAR (www.sedar.com). The cautionary statements qualify all forward-looking statements attributable to Elixxer and persons acting on its behalf. Unless otherwise stated, all forward-looking statements speak only as of the date of this press release, and Elixxer has no obligation to update such statements, except to the extent required by applicable securities laws.