YNVISIBLE WELCOMES SEDA EVIS TO ADVISORY BOARD AND TO CLOSE PRIVATE PLACEMENT
Vancouver, Canada, December 30, 2020 – Ynvisible Interactive Inc. (the "Company" or "Ynvisible") (TSX-V: YNV, FSE: 1XNA, OTCQB: YNVYF) is excited to strengthen its Advisory Board with the addition of Seda Evis, a business, user-centered design and finance leader. By uniting business expertise, research talent, and financial resources, Ynvisible aims to build innovative solutions and technology standards that provide an easy visual interface for the Internet of Things (IoT). Seda Evis is joining the Ynvisible Advisory Board as Ramin Heydarpour has joined the Ynvisible Board of Directors as of December 2020.
Ynvisible has infused the Advisory Board with leaders in private and academic sectors, specializing in Supply Chain Management, Packaging, Consumer Insights, Engineering, Business, and Finance.
Seda Evis joins Mitchell Huang, Adam Laubach, Dr. Rudi Leuschner, Sal Pellingra, and Tiffany Vasilchik, Dr. Michael Okoroafor, Dr. Harlan Byker, and Dr. Harri Kopola.
These inspiring professionals work collaboratively with like-minded experts and organizations to cultivate deeper relationships between industry, government, and financial partners. Ultimately, this infusion of new perspectives will transform the entire Ynvisible value chain.
Michael Robinson, COO of Ynvisible, says, "Ynvisible’s ability to return shareholder and customer value hinges on our Customer Experience (CX) and our capacity to rapidly and iteratively build, measure and learn around our products and services. A robust CX practice has been shown to deliver double- and triple-digit ROI. Seda Evis brings a wealth of customer-centered insight that I’m very excited to integrate to support our continued growth in 2021 and beyond.”
Seda Evis is an award-winning business leader, combining strategy with design process and user-centered insights leading to growth. She designs new products, services, businesses that spark change for Fortune 500 companies such as Amazon, Nike, Toyota, Philips, GE, Herman Miller, with persistence to see it through from vision to build. Seda is a Designer-in-Residence at the University of California San Diego’s DesignLab, led by Don Norman. She’s also an incoming board member at Design Forward Alliance, a non-profit that promotes human-centered design as a tool to help advance San Diego as a premier city for business, education, and enjoyment.
She holds an Urban Design and Planning degree from Middle East Technical University in Ankara, Turkey, with a minor in Architectural Conservation and a Masters in Business Administration from the University of San Diego.
Ynvisible announces that it will be closing, subject to acceptance by the TSX Venture Exchange, a non-brokered private placement of 12,857,142 Units of the Company (the “Units”) at $0.35 per Unit to raise gross proceeds of $4,500,000 (the “Offering”), whereby each Unit shall consist of one common share in the capital of the Company (“Share”) and one-third (1/3) of one Share purchase warrant (“Warrant”). Each whole Warrant, subject to an acceleration provision, will be exercisable into an additional Share at an exercise price of $0.50 for a period of 18 months from the date of issuance.
Jani-Mikael Kuusisto, Chief Executive Officer of Ynvisible, stated, “We are very pleased with the interest in our financing and to see several institutional investors investing into Ynvisible. This private placement, pending closing, combined with the recent exercises of warrants, is set to strengthen our cash position by more than $5 million. This significantly increases our runway and allows our team to further accelerate our business with more resources for customer delivery and customer service, plus an increased focus on building and monetizing our products business.”
In connection with the Offering, applicable finders’ fees to eligible finders will comprise (i) cash commissions in an aggregate amount of $68,628, and (ii) an aggregate of 452,280 finders’ units. The finders’ units will bear the same terms and conditions of the Units, consisting of one Share and one-third (1/3) of one Warrant, exercisable into an additional Share at an exercise price of $0.50 for a period of 18 months from the date of issuance.
All securities issued pursuant to the Offering shall be subject to a statutory four-month hold period from the date of closing in accordance with applicable Canadian securities laws. The Offering's net proceeds will be used for general working capital, productization, marketing, and increasing production capacity.
EXERCISING OF WARRANTS
At the commencement of Ynvisible’s FY2020 Q3, the Company had 8,978,478 Warrants issued and outstanding, whereby each Warrant was exercisable into a Share at an exercise price of $0.60. These Warrants were issued pursuant to private placement financings that closed in January and June 2019. A total of 1,027,505 of these Warrants have recently been exercised generating proceeds of $616,503.
ABOUT YNVISIBLE INTERACTIVE INC.
Ynvisible aims to be a leading company in the emerging printed and flexible electronics sector. Given the cost and power-consumption advantages over conventional electronics, printed electronics are a key enabler of mass adoption of the Internet of Things ("IoT") and smart objects. Ynvisible has the experience, know-how and intellectual property in electrochromic materials, inks, and systems. Ynvisible's interactive printed graphics solutions solve the need for ultra-low power, mass deployable, & easy-to-use electronic displays and indicators for everyday smart objects, IoT devices, and ambient intelligence (intelligent surfaces). Ynvisible offers a mix of services, materials and technology to brand owners developing smart objects and IoT products. Additional information on Ynvisible is available at www.ynvisible.com
ON BEHALF OF THE BOARD OF DIRECTORS
"Jani-Mikael Kuusisto," CEO, Ynvisible Interactive Inc.
For further information, please contact:
Neither 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.
This news release contains forward-looking statements. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. All statements, other than statements of historical fact, that address activities, events or developments the Company believes, expects or anticipates will or may occur in the future, including, without limitation, statements about the Company's forecast of sales, cost of sales, operating expenses and income from other sources; the Company's business strategy, plans and outlooks; the future financial or operating performance of the Company; and future marketing and operating plans are forward-looking statements. Forward-looking statements are subject to a number of risks and uncertainties that may cause the actual results of the Company to differ materially from those discussed in the forward-looking statements and, even if such actual results are realized or substantially realized, there can be no assurance that they will have the expected consequences to, or effects on, the Company. Factors that could cause actual results or events to differ materially from current expectations include, among other things: the impact of COVID-19; risks and uncertainties related to additional costs being subsequently identified and the allocation of costs between reporting periods; and the possibility that the actual financial results will not be consistent with the Company's expectations. Actual results may differ materially from those currently anticipated in such statements. Readers are encouraged to refer to the Company's public disclosure documents for a more detailed discussion of factors that may impact expected future results. The Company undertakes no obligation to publicly update or revise any forward-looking statements, unless required pursuant to applicable laws.
Press releases, success stories, and educational content from Ynvisible University.Learn more
Ynvisible announces that it has granted stock options to certain officers, directors, and employees of the Company to acquire an aggregate of 520,000 common shares in the capital of the Company (the “Stock Options”), pursuant to the Company’s omnibus equity incentive compensation plan.