Izotropic completes $300,000 private placement and settles debt

Izotropic Corporation (CSE: IZO) (OTCQB: IZOZF) (FSE: 1R3) completed a non-brokered private placement raising $300,000 and entered into a debt settlement agreement with a lender, according to a company statement.

The medical device company issued 1,200,000 units at $0.25 per unit. Each unit consists of one common share and one transferable warrant that allows the holder to purchase an additional share at $0.25 for three years from the closing date.

The company will use proceeds from the offering for general working capital purposes.

Separately, Izotropic settled $60,000 in accrued interest owed to a lender through the issuance of 240,000 units at $0.25 per unit. The interest represents three months of payments from October to December 2025 on a $2,000,000 promissory note originally issued April 1, 2022.

Each settlement unit includes one common share and one transferable warrant with the same $0.25 exercise price and three-year term as the private placement warrants.

All securities issued in connection with both transactions are subject to a statutory hold period of four months and one day under applicable securities laws. The debt settlement requires approval from the Canadian Securities Exchange.

The company develops medical imaging technology for breast cancer screening, diagnosis and treatment.

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