Vancouver, British Columbia and Rehovot, Israel--(Newsfile Corp. - November 15, 2022) - BioHarvest Sciences Inc. (CSE: BHSC) (OTCQB: CNVCF) (FSE: 8MV) ("BioHarvest" or the "Company") is pleased to announce that it has closed the second tranche (the "Second Tranche") of its non-brokered private placement of convertible notes (the "Notes") previously announced on October 7, 2022. Due to the significant demand for this offering, the Company expects the offering to be oversubscribed and to close an additional tranche of up to $3 Million CAD by December 15, 2022, subject to regulatory approvals. Under the Second Tranche, the Company has issued Notes in the aggregate principal amount of $2,612,742.28 CAD. With the closing of this tranche the aggregate amount raised under the offering to date is $ 9,490,985.94.
The Notes issued under the Second Tranche, and any Common Shares issuable upon conversion of such Notes, are subject to a four month and one day hold expiring March 16, 2023.
About BioHarvest Sciences Inc.
Based in Vancouver, BC, BioHarvest Sciences Inc. is the developer and exclusive owner of the proprietary and patent-protected BioFarming technology. It is the first and only industrial-scale plant cell technology capable of producing the active plant ingredients without the necessity to grow the plant itself. The Company's technology is non-GMO and has already been validated by VINIA®, the red grapes cells functional food/dietary supplement produced and sold by BioHarvest Sciences Inc. The Company plans to generate significant revenue within the global nutraceutical ingredients and dietary supplements market with VINIA® and other Super Fruit Nutraceutical products. Further, by adapting this technology to the Cannabis plant, and building adequate production capacity, BioHarvest Sciences Inc.'s objective is to become a leading supplier of Cannabis for both medicinal and legal recreational purposes. Visit: www.bioharvest.com.
BioHarvest Sciences Inc.
Ilan Sobel, Chief Executive Officer
For further information, please contact:
Dave Ryan, VP Investor Relations & Director
Phone: 1 (604) 622-1186
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.
Twitter: https://twitter.com/bioharvestbhsc
Facebook: https://www.facebook.com/BioHarvestSciences
LinkedIn: https://www.linkedin.com/company/bioharvestsciences/
YouTube: https://www.youtube.com/channel/UCGRJWztmLoycsLFWqwXAzAw
Forward-Looking Statements
Information set forth in this news release includes forward-looking statements that are based on management's current estimates, beliefs, intentions, and expectations, and are subject to a number of risks and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. All forward-looking statements are inherently uncertain and actual results may be affected by a number of material factors beyond our control. Readers should not place undue reliance on forward-looking statements. BHSC does not intend to update forward-looking statement disclosures other than through our regular management discussion and analysis disclosures.
Neither the Canadian Securities Exchange nor its Regulation Services Provider accept responsibility for the adequacy or accuracy of this release.
Last Trade: | US$5.70 |
Daily Volume: | 0 |
Market Cap: | US$98.780M |
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