The Jenex Corporation Announces Equity Financing with Insider Participation

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[{"type":"text","content":"The Jenex Corporation Announces Equity Financing with Insider ParticipationToronto, Ontario--(Newsfile Corp. - May 29, 2017) - The Jenex Corporation (TSXV: JEN.H) (\"Jenex\" or the \"Company\"), a progressive medical device technology company, today announced that it intends to complete a non-brokered private placement (the \"Private Placement Financing\") of up to 5,000,000 units (\"Units\") of the Company at a price of $0.05 per Unit for gross proceeds of up to $250,000 subject to regulatory and stock exchange approval. There is no minimum offering amount. Each Unit will consist of one common share and one common share purchase warrant. Each common share purchase warrant will entitle the holder to purchase one common share at a price of $0.08 for a period of three years from the date of issuance. The term of the Warrants will be subject to an acceleration right at the option of the Company, in the event that the Common Shares trade at or above $0.15 per Common Share for a full 10 consecutive trading days following the date which is four months and one day from the Closing Date, and the Company has provided Warrant holders with 30 days prior written notice of the accelerated Warrant exercise date. It is anticipated that insiders of the Company will subscribe for up to 1,700,000 Units for gross proceeds of up to $85,000 under the Private Placement Financing. In connection with the Private Placement Financing, Mr. Rob Fia, Chief Executive Officer of the Company, and Mr. John Gamble, Director, have agreed to sell an aggregate of up to 500,000 common shares from their personal shareholdings to a private investor at a price of $0.05 per share for proceeds of up to $25,000. Messrs. Fia & Gamble intend to use all of the proceeds from the sale of these shares to purchase Units under the Private Placement Financing. The issuance of shares to Messrs. Fia & Gamble and other insiders under the private placement is considered to be a related party transaction subject to TSX Venture Exchange Policy 5.9 and Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions. The Company intends to rely 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 to...

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