Mr. Robert Thast reports
IZOTROPIC PROVIDES CORPORATE UPDATE & ANNOUNCES NON-BROKERED PRIVATE PLACEMENT
Izotropic Corp. has provided a corporate update and announces the intention to complete a small non-brokered private placement financing.
The company's primary objective is securing capital financing to fund the commercialization of IzoView Breast CT, including prioritizing non-dilutive options, while actively evaluating opportunities to expedite additional regulatory pathways and positioning for earlier revenue generation.
These efforts may include the investigation and continued development of strategic relationships that have advanced to due diligence stages, with the objective of executing letters of intent and definitive agreements. Such arrangements may include the formation and advancement of global business units, territory and manufacturing rights, master distribution agreements, and the management of accelerated regulatory procedures and approvals in additional markets.
To support funding and relationship development, the company has presented, and continues to present, its business plan and integrated seven-year financial model addressing all major aspects of operations and commercialization, including regulatory strategies across multiple jurisdictions; go-to-market planning; marketing and sales initiatives; distribution and sales models; diversified revenue streams; uplisting considerations; capital structure considerations, including debt settlements and equity conversions; expanded Indications for Use for IzoView; development and commercialization of a second medical device; intellectual property and competitive positioning; milestone-based commercialization timelines; and risk mitigation strategies. Members of the company's Board of Directors and Advisory Board are actively participating in these meetings and leading presentations.
While these activities progress, the company continues to undertake small financings as required to maintain business operations and meet its ongoing corporate and securities regulatory obligations. As such the company intends to complete a non-brokered private placement (the "offering") of 1,200,000 units of the company, (each a "unit") at a price of $0.25 per each unit for gross proceeds of up to $300K. Each unit will consist of one common share and one transferable warrant (each, a "warrant"), and each warrant will entitle the holder to purchase one additional share at a price of $0.25 per share for a period of three (3) years from the closing of the offering.
The use of proceeds from the offering will be used for general working capital.
All securities issued in connection with the offering will be subject to a statutory hold period of four months and one day from the date of issuance in accordance with applicable securities legislation.
Completion of this offering is subject to a number of conditions, including, without limitation, receipt of all necessary regulatory approvals.
About Izotropic:
More information about Izotropic Corporation can be found on its corporate website at izocorp.com and by reviewing its profile on SEDAR+ at sedarplus.ca.
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