OTTAWA, Sept. 21, 2016 /CNW/ - Annidis
Corporation (TSX Venture: RHA) ("Annidis" or the
"Corporation"), is pleased to announce that, subject to the
approval of the TSX Venture Exchange (the "TSXV"),the
Corporation has completed the private placement of a $500,000 unsecured promissory note (the
"Note") with Mistarunited Technology Co., Limited (the
"Lender") a corporation directly owned and controlled by
Jinsong Zhang and Chunhang Yu, directors of Annidis Corporation.
The Note matures and becomes due and payable on the earlier of
December 31, 2016 and the completion
by the Corporation of an equity financing of not less than
$5,000,000. The Note bears
interest at rate of 10% per annum payable at maturity. The
Corporation may prepay the outstanding principal amount of the Note
together with all accrued and unpaid interest, without penalty, at
any time prior to the maturity date of the Note.
The issuance of the Note to the Lender constitutes a "related
party transaction" as defined under TSXV Policy 5.9 and
Multilateral Instrument 61-101 ("MI 61-101"). The
Corporation is relying on the exemptions from the formal valuation
and minority shareholder approval requirements as set out under
sections 5.5(a) and 5.7(a) of MI 61-101 on the basis that the fair
market value of the consideration for the Note will not exceed 25%
of fair market value of the Corporation's market capitalization.
The Corporation is issuing this press release, and it is
reasonable to do, less than 21 days prior to the closing of the
issuance of the Note as the closing is not subject to any
shareholder approval and the Corporation and the Lender were ready
and able to close prior to such 21 day period and the Corporation
is in need of the proceeds.
About Annidis Corporation
Annidis (TSX-V: RHA) has developed, manufactures and sells a
patented imaging platform technology based on multi-spectral
imaging. The current RHA is a retinal screening technology used by
primary care professionals for early disease detection. The RHA is
complementary to diagnostic imaging technologies and supports the
timely identification, treatment and monitoring of a wide range of
vision threatening diseases.
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Certain statements in this press release are forward looking
statements and are prospective in nature, including statements with
respect to the Corporation's intended use of the proceeds of the
Note. Forward‐looking statements are not based on
historical facts, but rather on current expectations and
projections about future events, and are therefore subject to risks
and uncertainties which could cause actual results to differ
materially from the future results expressed or implied by the
forward‐looking statements. These statements
generally can be identified by the use of
forward‐looking words such as "may", "should",
"will", "could", "intend", "estimate", "plan", "anticipate",
"expect", "believe" or "continue", or the negative thereof or
similar variations. Such statements are qualified in their entirety
by the inherent risks and uncertainties surrounding future
expectations. Such forward‐looking statements should
therefore be construed in light of such factors, and the
Corporation is not under any obligation, and expressly disclaims
any intention or obligation, to update or revise any
forward‐looking statements, whether as a result of
new information, future events or otherwise.
SOURCE Annidis Corporation