TORONTO, ON / TheNewswire / December 8, 2016 – Due to the success and increased demand of its previously announced non-brokered private placement (the “Offering”), BlueOcean NutraSciences Inc. (“BlueOcean” or the “Company”) (TSX-V: BOC) has made request to the TSX Venture Exchange to increase the size of the Offering to a raise a maximum of $3,000,000 (from a maximum of $2,500,000).  The closing date of the Offering was previously extended until December 12, 2016, and this increase will not affect or change this closing date.

 

If fully subscribed, the Company would issue a total of 26,086,956 units (the “Units”) at $0.115 per Unit.  Each Unit consists of one common share (“Common Share”) and one Common Share warrant (the “Warrants”).  Each Warrant will entitle the holder to purchase one Common Share (each a “Warrant Share”) of the Company at a price of $0.20 per Warrant Share until 2 years after the closing date of the specific tranche (the “Tranche Closing Date”).  The Units are subject to a statutory four-month-plus-one-day hold period, from the Tranche Closing Date.  The Financing is subject to the payment of 8% cash and finders’-fee warrants (the “Finders’ Warrants) and 2% cash and corporate finance-fee and warrants (the “Corporate Finance Warrants).  The Finders’ Warrants and the Corporate Finance Warrants are both exercisable at $0.115 per Finders’ Warrant and Corporate Finance Warrant until 2 years after the Tranche Closing Date.

 

To-date, the BlueOcean has closed on two tranches of the Offering, raising $1,907,814 and issuing 16,589,950 units.

 

The Offering is conducted in reliance upon certain prospectus and registration exemptions.  The net proceeds of the Financing will be used to enhance the Company’s cash on hand and strengthen its working capital position.

 

About BlueOcean

 

BlueOcean NutraSciences Inc. is a Canadian listed public Company that is focused on developing sustainable, specialty nutraceutical oil products targeted at the rapidly growing Natural Astaxanthin, Omega-3 and Algal oil health and wellness markets. BlueOcean’s bulk shrimp oils contain high levels of naturally occurring astaxanthin, phospholipids, and omega-3 EPA and DHA. Northern and Pacific AstaShrimp™ bulk oils are targeted at the high value and rapidly growing natural astaxanthin and phospholipid omega-3 markets.

 

BlueOcean’s Pure Polar™ Omega-3 Shrimp Oil formulations contain over two times more omega-3 EPA & DHA and 10 times more astaxanthin than typical retail krill oil brands, and contain phospholipids for better absorption of omega-3s. Product details and ordering can be found at:

 

www.purepolarshrimp.com, Amazon.com, Inboxfitness.com and LuckyVitamin.com

 

Forward-Looking Statements

 

This news release may contain forward-looking statements that are based on BlueOcean’s expectations, estimates and projections regarding its business and the economic environment in which it operates. These statements are not guarantees of future performance and involve risks and uncertainties that are difficult to control or predict. Therefore, actual outcomes and results may differ materially from those expressed in these forward-looking statements and readers should not place undue reliance on such statements. Statements speak only as of the date on which they are made, and the Company undertakes no obligation to update them publicly to reflect new information or the occurrence of future events or circumstances, unless otherwise required to do so by law.

 

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

 

For more information, please visit www.blueoceannutra.ca or contact Gavin Bogle, CEO at 416-970-3266 or Dil Vashi, Manager Corporate Development at 416-859-0909.