Promino Nutritional Sciences Inc. Announces Private Placement Financing

Rhea-AI Summary

Promino Nutritional Sciences (CSE: MUSL) (OTC Pink: MUSLF) has announced a private placement financing to raise up to $750,000. The company will offer units at $0.05 each, with each unit consisting of one common share and one purchase warrant. The warrants will be exercisable at $0.18 per share for a 24-month period from issuance.

All securities issued will have a statutory hold period of four months and one day. Promino may pay finder's fees in accordance with applicable securities laws and Canadian Securities Exchange policies. The offering requires customary conditions and necessary approvals, including CSE acceptance.

The company plans to use the net proceeds to accelerate sales and fulfillment of its sports beverages, Promino™ and Rejuvenate Muscle™ Health, settle outstanding liabilities, and for general working capital purposes.

Positive

• Raising up to $750,000 to strengthen financial position
• Proceeds will accelerate sales of key sports beverage products
• Funds will help settle outstanding liabilities

Negative

• Potential dilution for existing shareholders
• Warrants priced at $0.18 represent significant premium to current unit price of $0.05

News Market Reaction

-8.47%

1 alert

-8.47% News Effect

On the day this news was published, MUSLF declined 8.47%, reflecting a notable negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

Burlington, Ontario--(Newsfile Corp. - February 24, 2025) - Promino Nutritional Sciences Inc. (CSE: MUSL) (OTC Pink: MUSLF) (FSE: 93X) ( the "Company" or "Promino") (www.drinkpromino.com) is pleased to announce it intends to conduct a private placement of units of the Company ("Units") at a price of $0.05 per Unit for gross proceeds of up to $750,000 (the "Offering").

Each Unit will be comprised of one common share of the Company and one common share purchase warrant, with each warrant exercisable to acquire one common share of the Company at a price of $0.18 per share for a period of 24 months from the date of issuance. All securities issued in connection with the Offering will be subject to a statutory hold period of four months and one day. The Company may pay finder's fees in connection with the Offering in accordance with applicable securities laws and the policies of the Canadian Securities Exchange. Completion of the Offering is subject to customary conditions and the receipt of all necessary approvals, including acceptance of the Canadian Securities Exchange.

The Company intends to use the net proceeds of the Offering to to accelerate sales and fulfillment of Promino's marquee muscle strength and recovery sports beverages, Promino™ and Rejuvenate Muscle™ Health, settle outstanding liabilities and for general working capital purposes.

About Promino

Promino is an innovative and research driven Canadian nutraceutical company specializing in the development of patented and science-based products for the global consumer packaged goods market, with a portfolio focused specifically on muscle health. Promino's lead product, Rejuvenate Muscle™ Activator, is a patented proprietary formulation that is clinically proven to assist in the building, rebuilding, restoration and rejuvenation of natural muscle mass. Promino also offers Promino™, an elite performance supplement for both professional and amateur athletes to accelerate muscle recovery, build strength and accelerate recovery from injury. Promino was founded in 2015 and is located in Burlington, Ontario.

To learn more about Promino, visit www.drinkpromino.com.

For more information about Rejuvenate Muscle™ Activator and where to purchase, visit www.rejuvenatemuscle.com.

Forward-Looking Statements

This news release contains "forward-looking information" and "forward-looking statements" (collectively, "forward-looking statements") within the meaning of applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this news release. In some cases, forward looking statements are preceded by, followed by, or include words such as "may", "will," "would", "could", "should", "believes", "estimates", "projects", "potential", "expects", "plans", "anticipates", "continues", or the negative of those words or other similar or comparable words. In this news release, forward-looking statements include, without limitation, statements regarding: the Offering, including the timing, terms and anticipated use of proceeds of the Offering. In preparing the forward-looking statements in this news release, the Company has applied several material assumptions, including, but not limited to, assumptions regarding the availability of capital resources, business performance, market conditions, customer demand and general economic conditions. Although the forward-looking information contained herein is based upon what management believes are reasonable assumptions as at the date they were made, investors are cautioned against placing undue reliance on these statements since actual results may vary from the forward-looking information. Consequently, all of the forward-looking statements contained herein is qualified by the foregoing cautionary statements, and there can be no guarantee that the results or developments that management anticipates will be realized. Unless otherwise noted or the context otherwise indicates, the forward-looking statements contained herein is provided as of the date hereof, and management does not undertake to update or amend such forward-looking statements whether as a result of new information, future events or otherwise, except as may be required by applicable law.

SOURCE Promino Nutritional Sciences Inc.

No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.

For further information:

Vito Sanzone, vsanzone@drinkpromino.com, 289-348-1970 ext. 222

Marc Charbin, Investor Relations, marc.charbin@loderockadvisors.com, 416-467-5229

NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/242217

FAQ

What is the price per unit in Promino Nutritional Sciences' (MUSLF) private placement?

Promino is offering units at $0.05 each, with each unit consisting of one common share and one purchase warrant exercisable at $0.18 for 24 months.

How much funding is Promino Nutritional Sciences (MUSLF) aiming to raise in its February 2025 offering?

Promino aims to raise up to $750,000 through its private placement offering announced on February 24, 2025.

What will Promino Nutritional Sciences (MUSLF) use the proceeds from the private placement for?

Promino will use the proceeds to accelerate sales of its sports beverages (Promino™ and Rejuvenate Muscle™ Health), settle outstanding liabilities, and for working capital.

How long is the hold period for securities issued in Promino's (MUSLF) private placement?

All securities issued in the private placement will have a statutory hold period of four months and one day.

What is the exercise price and term for warrants in Promino's (MUSLF) February 2025 financing?

The warrants can be exercised at $0.18 per share for a period of 24 months from the date of issuance.