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Promino Nutritional Sciences Inc (2)
Symbol MUSL
Shares Issued 118,496,171
Close 2025-03-14 C$ 0.065
Market Cap C$ 7,702,251
Recent Sedar Documents

Promino closes $320,000 first tranche of placement

2025-03-14 19:06 ET - News Release

Mr. Marc Charbin reports

PROMINO NUTRITIONAL SCIENCES CLOSES FIRST TRANCHE OF FINANCING

Promino Nutritional Sciences Inc. has closed the first tranche of its previously announced private placement of units of the company. The company issued an aggregate of 6.4 million units at a price of five cents per unit for gross proceeds of $320,000, with each unit comprising one common share of the company and one common share purchase warrant. Each share purchase warrant is exercisable to acquire one common share of the company at a price of 18 cents per share for a period of 24 months from the date of issuance.

In connection with closing of the first tranche, the company paid:

  • Cash finders' fees in the aggregate amount of $22,650;
  • Issued an aggregate of 413,000 non-transferable finders' unit warrants, with each finder's unit warrant exercisable at a price of five cents per finder's unit for a period of 24 months. Each finder's unit consists of one common share in the capital of the company and one warrant which shall entitle the holder thereof to acquire one additional finder's share at a price of 18 cents until the date that is two years following the exercise of the finder's unit warrant;
  • Issued 40,000 non-transferable finders' warrants, with each finder's warrant exercisable into one finder's share at a price of 18 cents for a period of 24 months.

All securities issued in connection with the first tranche are subject to a hold period of four months and one day pursuant to applicable securities laws. The company intends to use the net proceeds of the private placement to accelerate sales and fulfilment of Promino's marquee muscle strength and recovery sports beverages, Promino and Rejuvenate Muscle Health, settle outstanding liabilities, and for general working capital purposes.

About Promino Nutritional Sciences Inc.

Promino is an innovative and research-driven Canadian nutraceutical company specializing in the development of patented and science-based products for the global consumer packaged goods market, with a portfolio focused specifically on muscle health. Promino's lead product, Rejuvenate Muscle Activator, is a patented proprietary formulation that is clinically proven to assist in the building, rebuilding, restoration and rejuvenation of natural muscle mass. Promino also offers Promino, an elite performance supplement for both professional and amateur athletes to accelerate muscle recovery, build strength and accelerate recovery from injury. Promino was founded in 2015 and is located in Burlington, Ont.

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