TORONTO, Jan. 13, 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 announce that it has closed its previously announced equity offering for aggregate gross proceeds of approximately $12 million (the "Offering").
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 initiate 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.
Bloom Burton Securities Inc. acted as sole and exclusive agent for the Offering. Under the Offering, subscribers purchased a total of 26,666,670 common shares of the Company (the "Common Shares") at a price of $0.45 per Common Share, for gross proceeds of $12,000,001.50.
"This Offering positions Conavi to initiate a targeted market release of Novasight, following U.S. FDA clearance," said Tom Looby, President and Chief Executive Officer of Conavi. "The strong participation from U.S. strategic healthcare investors reflects confidence in our technology and commercial strategy, as well as growing interest in intravascular imaging technologies. The proceeds will support our commercialization efforts and continued advancement of our intravascular imaging platform."
In Canada, the Common Shares purchased pursuant to the Offering were qualified for sale by way of an amended and restated short form prospectus dated January 7, 2026, which was filed in British Columbia, Alberta and Ontario. The Common Shares were also purchased by way of private placement in the United States, pursuant to exemptions from the registration requirements under ...
