FOR IMMEDIATE RELEASE TORONTO: Bionik Laboratories Corp. (OTC:DWTPD), a Delaware corporation (the “Company”), announced today that it acquired Bionik Laboratories, Inc., a Toronto corporation (“Bionik Laboratories”), and completed the sale to qualified accredited investors of units consisting of its common stock and warrants for aggregate gross proceeds of approximately $6.2 million.
Shares of the Company’s common stock will continue to be quoted on the OTC Markets under the symbol “DWTPD” until FINRA’s approval of the ticker “BNKL.”
Bionik Laboratories is an innovative medical-robotics company that develops healthcare solutions for patients with restricted physical mobility.
Peter Bloch, CEO of Bionik Laboratories, stated, “Our team at Bionik Labs is focused and dedicated to deploying cutting edge solutions that will assist mobility impaired people. As a company, we are committed to improving the lives of hundreds of thousands of people and we are excited to be in the forefront of this new and developing technology.”
The securities sold in the private placement have not been registered under the Securities Act of 1933 and may not be offered, sold or resold absent registration or an applicable exemption from registration under such Act. The Company intends to file a Current Report on Form 8-K with the Securities and Exchange Commission with more detailed information in accordance with the SEC rules.