The Jenex Corporation Announces Approvals of Equity Financing & Move to TSX Venture Exchange (TSXV)

September 19, 2017 8:00 AM EDT | Source: Therma Bright Inc.

Toronto, Ontario--(Newsfile Corp. - September 19, 2017) - The Jenex Corporation (TSXV: JEN.H) ("Jenex", or the "Company"), a progressive medical device technology company, today announced that it has completed a non-brokered private placement (the "Private Placement Financing") of 6,350,000 Units ("Units") of the Company at a price of $0.05 per Unit for gross proceeds of $317,500 and has received final stock exchange approval therefor. The Units were oversubscribed and approval was granted for a total offering of $317,500. Each Unit consists of one common share ("Share") and one common share purchase warrant ("Warrant"). Each Warrant entitles the holder to purchase one Share at a price of $0.08 for a period of one year from the date of issuance (each Warrant's term to be automatically extended to three years from issuance date if Jenex graduates from the NEX to the TSXV during the initial one-year period). The term of the Warrants also is subject to an acceleration right at the option of the Company, in the event that the Shares trade at or above $0.15 per Share for a full 10 consecutive trading days following the date which is four months and one day after the Closing Date, and the Company has provided Warrant holders with 30 days prior written notice of the accelerated Warrant exercise date.

Insiders of the Company subscribed for 1,200,000 Units for gross proceeds of $60,000 under the Private Placement Financing. The shares issued to Messrs. Rob Fia (CEO & Chairman) and John Gamble (Independent Director) under the private placement was considered to be a related party transaction subject to TSXV Policy 5.9 and Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions. The Company relied on exemptions from the formal valuation and minority shareholder approval requirements provided under sections 5.5(a) and 5.7(a) of Multilateral Instrument 61-101 on the basis that the value of securities that were purchased by Messrs. Fia & Gamble under the private placement did not exceed 25% of the fair market value of the Company's market capitalization.

Jenex intends to use the net proceeds of the Private Placement Financing to fund the Company's product commercialization and manufacturing programs for TherOZap™ and InterceptCS™, sales and marketing and for general working capital purposes.

The Company is pleased to also announce that the TSXV has granted permission for the company to begin trading on their stock exchange after the Company's upcoming Annual General Meeting provided disinterested shareholder approval for the pending Shares for debt transaction is obtained thereat.

About Jenex:

Jenex is a progressive medical device technology Company focused on providing consumers with quality medical devices that address their dermatological needs.  Clear and healthy skin for all is at the core of Jenex's philosophy as is the belief that such outcomes should not be a privilege for only those who can afford costly procedures and treatments.  The Company's breakthrough proprietary technology delivers effective, non-invasive and pain free skin care. The Jenex Corporation trades on the NEX (NEX: JEN.H). For more information visit: www.thejenexcorporation.com or www.therozap.com.

FORWARD LOOKING STATEMENTS

Certain statements in this news release constitute "forward-looking" statements. These statements relate to future events or the Company's future performance and include a Private Placement Financing as described in the news release. All such statements involve substantial known and unknown risks, uncertainties and other factors which may cause the actual results to vary from those expressed or implied by such forward-looking statements. In addition to other risks, the Company may not complete the entire Private Placement Financing to cover working capital requirements to complete the commercialization or marketing of its products as described in this news or attract capital in the future. Forward-looking statements involve significant risks and uncertainties, they should not be read as guarantees of future performance or results, and they will not necessarily be accurate indications of whether or not such results will be achieved. Actual results could differ materially from those anticipated due to a number of factors and risks. Although the forward-looking statements contained in this news release are based upon what management of the Company believes are reasonable assumptions on the date of this news release, the Company cannot assure investors that actual results will be consistent with these forward-looking statements. The forward-looking statements contained in this press release are made as of the date hereof and the Company disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required under applicable securities regulations.

Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this press release.

For further information please contact:
The Jenex Corporation
Rob Fia
CEO & Chairman
rfia@thejenexcorporation.com

NOT FOR DISSEMINATION OR DISTRIBUTION IN THE UNITED STATES

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