Binovi Technologies Corp (CVE:VISN) (OTCQB:BNVIF) (FRA:2EYA) said it plans to complete an additional financing to raise up to C$2 million.
The non-brokered private placement will consist of nearly 15.7 million units priced at $0.1275 per unit for gross proceeds of C$2 million.
Toronto- and New York-based Binovi is developing neuro-visual technology to test, analyze, track and report individual cognitive performance.
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Under the terms of the placement, each unit will consist of one share and one whole warrant exercisable at C$0.40 for a two-year period, subject to an acceleration clause.
Binovi said it plans to use the funds raised for general working capital.
The financing is expected to close on November 9.
Separately, the company issued a third batch of shares to Agora Internet Relations Corp (AGORACOM) under its investor relations agreement. Binovi will issue 104,308 common shares priced at $0.13 subject to a hold period expiring February 7, 2021.
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