A&R FINAL PROSPECTUS WILL BE ACCESSIBLE ON SEDAR+
TORONTO, Jan. 07, 2026 (GLOBE NEWSWIRE) -- Conavi Medical Corp. (TSXV:CNVI) ("Conavi" or the "Company"), a commercial stage medical device company focused on designing, manufacturing, and marketing imaging technologies to guide common minimally invasive cardiovascular procedures, is pleased to provide an update in respect of its previously announced public offering (the "Offering") of common shares of the Company ("Common Shares") and/or pre-funded common share purchase warrants of the Company in lieu of Common Shares ("Pre-Funded Warrants" and, together with the Common Shares, the "Securities").
The Offering is being conducted on a commercially reasonable efforts agency basis for the issuance of a minimum of 26,666,667 Securities and a maximum of 33,333,333 Securities at a price of $0.45 per Common Share or $0.44999 per Pre-Funded Warrant, for gross proceeds of between $12,000,000 and $15,000,000. Each Pre-Funded Warrant issued in lieu of a Common Share at the election of any purchaser entitles the holder thereof to acquire one Common Share at an exercise price of $0.00001 per Common Share. The Pre-Funded Warrants will not expire and may be exercised on a "net" or "cashless" basis.
The Company intends to use the net proceeds from the Offering to obtain US FDA 510(k) clearance of the next generation Novasight Hybrid system, as well as complete a targeted market release in the United States. The Company also intends to use the net proceeds for working capital and other general corporate purposes.
The Offering is expected to be completed pursuant to the terms and conditions of an amended & restated agency agreement entered into between the Company and Bloom Burton Securities Inc. (the "Agent").
The Company filed an amended and restated final short form prospectus (the "A&R Final Prospectus") on January 7, 2026, with the securities regulatory authorities in the provinces of Alberta, British Columbia, and Ontario, which amends and restates the final short form prospectus filed on December 18, 2025. There will not be any sale of the Securities until a receipt for the A&R Final Prospectus has been issued.
The Offering may be completed in one or more tranches and is expected to close initially on or about January 13, 2026, or such other date as may be mutually agreed to by the Company and the Agent (the "Closing Date"). The Offering is subject to the satisfaction of customary closing conditions, including the receipt of all necessary regulatory and ...
