Izotropic to Extend Period for Unsecured Loans
Vancouver, BC - TheNewswire - March 29, 2023 - Izotropic Corporation (“Izotropic” or the “Company”) (CSE:IZO) (OTC:IZOZF) (FSE:1R3), a medical device company commercializing IzoView, a dedicated breast CT (computed tomography) imaging platform, for the more accurate detection and diagnosis of breast cancers, announces its intent to extend unsecured loans.
On March 30, 2022, the Company entered into a non-brokered private placement of unsecured promissory notes in which the Company issued notes for $2,050,000.00 with the option for the Company to acquire an additional $2,000,000.00 subject to terms to be determined at a later date. A total of 826,613 detachable share purchase warrants exercisable at $0.62 for a period of two years (yet unexercised) were also issued.
Under the agreement notes mature one year from the date of issuance and bear simple interest at 1% per month from the date of issuance and payable every three months or, be subject to an original issuance discount in lieu of paying interest. The final terms were to be determined subject to the policies of the Canadian Securities Exchange.
The Company now plans to extend the agreement and loan period and is in discussions with the two lenders in this regard. The intention is to repay the loans in cash and or equity in future and the new terms will be announced when finalized.
ON BEHALF OF THE BOARD
Investor Relations Contact:
Toll Free: 1-833-IZOCORP ext.1
Media Inquiries Contact:
Ms. Jaclyn Thast
Toll Free: 1-833-IZOCORP ext.3
About Izotropic Corporation
Izotropic Corporation is the only publicly traded company commercializing a dedicated breast CT imaging platform, IzoView, for the more accurate detection and diagnosis of breast cancers. To expedite patient and provider access to IzoView, Izotropic's initial clinical study intends to demonstrate superior performance of diagnostic breast CT imaging over diagnostic mammography procedures. In follow-on clinical studies, Izotropic intends to validate platform applications, including breast screening in radiology, treatment planning and monitoring in surgical oncology, and breast reconstruction and implant monitoring in plastic and reconstructive surgery.
This document may contain statements that are "Forward-Looking Statements," which are based upon the current estimates, assumptions, projections, and expectations of the Company's management, business, and its knowledge of the relevant market and economic environment in which it operates. The Company has tried, where possible, to identify such information and statements by using words such as "anticipate," "believe," "envision," "estimate," "expect," "intend," "may," "plan," "predict," "project," "target," "potential," "will," "would," "could," "should," "continue," "contemplate" and other similar expressions and derivations thereof in connection with any discussion of future events, trends or prospects or future operating or financial performance, although not all forward-looking statements contain these identifying words.
These statements are not guarantees of performance and involve risks, including those related to capital requirements and uncertainties that are difficult to control or predict, and as such, they may cause future results of the Company's activity to differ significantly from the content and implications of such statements. Forward-Looking Statements are pertinent only as of the date on which they are made, and the Company undertakes no obligation to update or revise any Forward-Looking Statements to reflect new information or the occurrence of future events or circumstances unless otherwise required to do so by law. Neither the Company nor its shareholders, officers, and consultants shall be liable for any action and the results of any action taken by any person based on the information contained herein, including, without limitation the purchase or sale of Company securities. Nothing in this document should be deemed to be medical or other advice of any kind. All images are for illustrative purposes only. IzoView is not yet approved for sale.