Promino Nutritional arranges $1.2-million financing

Executive Summary

• Promino Nutritional Sciences Inc. announced a proposed non-brokered private placement for aggregate gross proceeds of up to $1.2 million.
• The company intends to issue up to 40 million units at a price of $0.03 per unit, with each unit comprising one common share and one-half of one common share purchase warrant.
• Net proceeds are designated for inventory production and general corporate purposes, excluding officer/director salaries and investor relations activities.

Key Details

• Transaction Structure: Non-brokered private placement.
• Gross Proceeds: Up to $1.2 million.
• Units Issued: Up to 40,000,000 units.
• Price Per Unit: $0.03.
• Warrant Terms: Each unit includes one-half of one common share purchase warrant. Each warrant is exercisable to purchase one additional common share at an exercise price of $0.06.
• Warrant Expiration: 12 months from the date of issuance.
• Use of Proceeds:
  • (a) Invest in inventory production.
  • (b) General corporate purposes.
  • Exclusions: Accrued salaries to officers or directors; payment for investor relations activities.
• Closing Date: Expected on or about April 15, 2026.
• Conditions: Subject to execution of subscription agreements and receipt of necessary regulatory approvals, including Canadian Securities Exchange approval.
• Resale Restrictions: All securities subject to a four-month-and-one-day statutory resale restriction.
• Finders' Fees: The company may pay finders' fees as permitted by applicable securities laws and CSE rules.