CALGARY, AB, May 1, 2023 /CNW/ - Nanalysis Scientific Corp. ("Nanalysis" or the "Company", TSXV: NSCI, OTCQX: NSCIF, FRA: 1N1) is pleased to announce that due to strong investor demand, the Company has increased the size of its previously announced non-brokered private placement of units of the Company (the "Units"). The Company will now issue up to 6,881,167 Units at a price of $0.60 per Unit for aggregate gross ‎proceeds of up to $4,128,700 (the "Offering"). 

Other than the increase in the size of the Offering, all other terms and conditions of the Offering remain unchanged, as described in the press release dated April 21, 2023.

The completion of the Offering will be subject to acceptance of the Offering by the TSX Venture Exchange. It is anticipated that the second closing of the Offering will occur on or about May 2, 2023, subject to satisfaction of all closing conditions. The Units, including all underlying securities thereof, will have a hold period of four months and one day from the date of issue.‎

Nanalysis' business is what we term "MRI and NMR for industry". The Company develops and manufactures portable Nuclear Magnetic Resonance (NMR) spectrometers or analyzers for laboratory and industrial markets. The NMReady-60™ was the first full-feature portable NMR spectrometer in a single compact enclosure requiring no liquid helium or any other cryogens. The company has followed-up that initial offering with new products and continues to have a strong innovation pipeline. In 2020 Nanalysis announced the launch of its100MHz device, the most powerful and most advanced compact NMR device ever brought to market.

Nanalysis' devices are used in many industries (oil and gas, chemical, mining, pharma, biotech, flavor and fragrances, agrochemicals, law enforcement, and more) as well as numerous government and university research labs around the world. The Company continues to exploit new global market opportunities independently and with partners.

In 2022 the Company acquired K'(Prime) Technologies Inc. (KPrime), a North American sales and service company of over 40 individuals who cover scientific instrumentation for pharma, food, chemical and oil & gas customers, as well as imaging systems for security applications.

Additionally in 2022, the Company acquired a 43% ownership in Quad Systems AG ("Quad Systems"), a Zurich-based Nuclear Magnetic Resonance (NMR) company focused on high-field NMR for pharmaceutical and other vertical markets.

This news release contains certain "forward-looking statements" within the meaning of such statements under applicable securities law relating to regulatory approval for the Offering and statements relating to the successful closing of the second tranche of the Offering and anticipated timing thereof and other matters ‎ancillary or incidental to the foregoing.

All statements included herein, other than statements of historical fact, may be forward-looking information and such information involves various risks and uncertainties. Forward-looking information is often, but not always, identified by the use of words such as "anticipates", "plan", "continue", "expect", "project", "intend", "believe", "anticipate", "estimate", "may", "will", "potential", "proposed", "positioned" and other similar words, or statements that certain events or conditions "may" or "will" occur. These statements are only predictions. Various assumptions were used in drawing the conclusions or making the projections contained in the forward-looking statements throughout this news release. Forward-looking statements are based on the opinions and estimates of management at the date the statements are made and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking statements. The Company is under no obligation, and expressly 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 expressly required by applicable law.

Neither TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.

SOURCE Nanalysis Scientific Corp.