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Bold Announces Closing of a Private Placement of Approximately C$1,700,000 of Convertible Debentures of Dymedso, a Corporation Involved in Lung Disease Treatment and Treating COVID-19 Pulmonary Issues

/EIN News/ -- THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO U.S. WIRE NEWS SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

MONTRÉAL, Oct. 01, 2020 (GLOBE NEWSWIRE) -- Peter Rona, President and Chief Executive Officer of Bold Capital Enterprises Ltd. (“Bold”) (TSX-V Bold), a Capital Pool Company, is pleased to announce that its target, Dymedso Inc. (“Dymedso”), closed a private placement of unsecured convertible debentures for the realization of its qualifying transaction (the “Qualifying Transaction”), as per Policy 2.4 of the TSX Venture Exchange (the “Exchange”), for aggregate gross proceeds of approximately C$1,700,000 (the “Offering”).

Pursuant to the Offering, Dymedso issued unsecured convertible debentures bearing interest at a rate of 10% (the “Debentures”). The principal amount of the Debenture and the accrued and unpaid interest shall be automatically converted in units of Dymedso (the “Units”) immediately prior to the completion of the Qualifying Transaction and conditional to the completion of the Qualifying Transaction at a price per Unit equal to the price per common share then held by Dymedso’s shareholders less a discount of 25% immediately prior to the closing of such Qualifying Transaction. Each Unit consists of one common share in the capital of Dymedso (the “Common Share”) and one quarter of a share purchase warrant (each whole purchase warrant a “Warrant”). Each Warrant shall entitle the holder thereof to acquire one Common Share at a price of Dymedso’s Common Shares comprised in the Units plus 40% on or before the date which is 24 months following the closing date of the Qualifying Transaction.

At any time, Dymedso may prepay in cash any portion of the principal amount of the Debentures, ‎plus accrued and unpaid interest. ‎

All securities issued in connection with the Offering are subject to a restriction period expiring on the date which is four months and a day after the later of (i) September 28, 2020, and (ii) the date that Dymedso becomes a reporting issuer in any province or territory.

Dymedso also retained the services of NATIONAL Public Relations and Stockhouse Publishing Ltd. in order to promote the Frequencer® (as defined below) in the media.

This press release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”), or any state securities laws and may not be offered or sold within the United States or to or for the account or benefit of a U.S. person (as defined in Regulation S under the U.S. Securities Act) unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

About Bold

Bold is a capital pool company created pursuant to Policy 2.4 of the Exchange and, to date, has not conducted material operations of any kind, other than to identify and evaluate businesses and assets with a view to completing a Qualifying Transaction. On April 16, 2019, Bold completed its initial public offering, and the common shares of Bold commenced trading on the Exchange on April 23, 2019.

About Dymedso

Dymedso is a medical device corporation using proprietary and innovative acoustic signals to treat patients with airway clearance issues. Its flagship product, the Frequencer® (the “Frequencer®”), provides airway clearance therapy and promotes bronchial drainage by inducing vibration through chest walls. This medical device is intended to be a component of chest physiotherapy by providing a convenient airway clearance method without harsh external thorax manipulation. The Frequencer® is indicated for patients who have respiratory ailments that involve defective mucociliary clearance, as typically seen in patients suffering from cystic fibrosis as well as Chronic obstructive pulmonary disease (COPD), bronchiectasis, ciliary dyskinesia syndromes, asthma, muscular dystrophy, neuromuscular degenerative disorders, postoperative atelectasis, and thoracic wall defects.

While controlled clinical studies on the effectiveness of the Frequencer® on COVID-19 patients have not yet been done, more than 675 Frequencers® are currently being utilized across the world to assist with airway recruitment and secretion removal. The technology is in use in clinical settings for COVID-19 treatment in Montréal and in Germany.

The Frequencer® has obtained FDA approval, Health Canada licenses, UL approval, and CE Mark. The Frequencer® is approved for sale in the United States, the European Union, Canada and the Middle East. Dymedso is also ISO 13485 certified for the design manufacturing and maintenance of pulmonary medical devices.

Dymedso and Bold are not making any express or implied claims that its product has the ability to eliminate, cure, or contain the COVID-19 virus at this time.

Forward-Looking Statement

This press release includes forward-looking statements that are subject to risks, uncertainties and other factors, including the possibility of unfavourable results from clinical trials involving the Frequencer® and the treatment of COVID-19 even if the Frequencer® has been successfully used for the treatment of other lung diseases. As a result, the Frequencer® may never be successfully commercialized for COVID-19. All statements other than statements of historical fact could be deemed forward-looking statements. These risks, uncertainties and other factors could cause actual results to differ materially from those referred to in the forward-looking statements. The reader is cautioned not to rely on these forward-looking statements. All forward-looking statements are based on information currently available to Dymedso and Dymedso assumes no obligation to update any such forward-looking statements.

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

Contacts Peter Rona Richard Boudreault
  President, Chief Executive Officer and Director Chief Executive Officer and Chairman of the Board
  Bold Capital Enterprises Ltd. Dymedso Inc.
  Telephone: 514-794-1656 Telephone: 514-636-9959
  Courriel: peter.rona@sympatico.ca Courriel: richard@techaero.ca