The proceeds from the early exercise of the warrants will be used primarily to accelerate the Company’s marketing and sales initiatives for neuenergy, and to further advance its joint venture, Ambarii Trade Corporation.
NeutriSci, a US based company specializing in innovation, production and formulation of nutraceutical products, announced that it will immediately implement an incentive program designed to encourage the early exercise of up to 1,722,333 warrants issued on September 30, 2015 (the “September 2015 Warrants“); and 13,013,000 warrants issued on November 25, 2015 (the “November 2015Warrants“); and the exercise of up to 2,220,000 warrants issued on July 25, 2016 (the “July 2016 Warrants“); and the exercise of up to 1,667,000 warrants issued on September 30, 2016 (the “September 2016 Warrants“); and the exercise of up to 15,000,000 warrants issued on November 18, 2016 (the “November 2016 Warrants“); and the exercise of up to 3,333,000 warrants issued on May 2, 2017 (the “May 2017 Warrants” and together with the September 2015, November 2015, July 2016, September 2016, and November 2016 Warrants, the “Original Warrants“).
The proceeds from the early exercise of the warrants will be used primarily to accelerate the Company’s marketing and sales initiatives for neuenergy, and to further advance its joint venture, Ambarii Trade Corporation.
Many Warrant holders, including several of the Company’s institutional investors, have already agreed to immediately exercise their warrants.
NeutriSci President, Glen Rehman stated: “The participation in this incentive program by our valued shareholders, led by the continued support of our biggest institutional stakeholders further exemplifies their commitment to the corporate direction and the continued expansion of neuenergy.”
The warrant incentive program is subject to the approval of the TSX Venture Exchange. The Company will send a notice to the holders of the Original Warrants outlining the details of the incentive program.
With the recent formation of Ambarii, a joint venture partnership with Lexaria Bioscience Corp., NeutriSci is expanding its reach into the burgeoning cannabinoid industry.
