Beyond Medical Technologies Raises $979,232 through Private Placement
Vancouver, BC – Beyond Medical Technologies Inc. (CSE: DOCT) (FSE: 7FM) (OTC Pink: DOCKF) (“Beyond Medical” or the “Company”), a leading medical technology company, is thrilled to announce the successful completion of its non-brokered private placement financing. The financing raised a total gross amount of $979,232.
Details of the Private Placement
The private placement involved the issuance of 8,987,677 units at a price of $0.109 per unit. Each unit consisted of one common share in the capital of the Company.
Use of Proceeds
The net proceeds from the private placement will be used for working capital and general corporate purposes. These funds will significantly contribute to the Company’s ongoing research and development efforts, enabling it to bring innovative medical solutions to the market more efficiently.
Impact on Beyond Medical
This successful financing round comes at an opportune time for Beyond Medical as it continues to advance its product pipeline. With the recent FDA clearance of its flagship product, the iNeb® System for the treatment of Mild to Moderate Obstructive Sleep Apnea, the Company is poised for growth. The additional funds will provide the necessary resources to expand operations, increase marketing efforts, and further invest in research and development.
Global Implications
Beyond Medical’s funding success is a testament to the growing demand for innovative medical technologies. According to a report by Grand View Research, the global medical devices market is projected to reach $670.6 billion by 2025, growing at a CAGR of 4.8% from 2018 to 2025. This trend signifies a significant opportunity for companies like Beyond Medical to develop and commercialize groundbreaking medical solutions.
Conclusion
Beyond Medical’s successful private placement financing of $979,232 is a significant step forward for the Company as it continues to innovate and grow in the medical technology sector. With the funds, Beyond Medical will be able to expand operations, increase marketing efforts, and invest further in research and development. This news not only has a positive impact on the Company but also underscores the global demand for advanced medical technologies and the potential for growth in this industry.
- Beyond Medical Technologies raises $979,232 through private placement
- Proceeds to be used for working capital and general corporate purposes
- Funding comes at opportune time for Beyond Medical with recent FDA clearance of iNeb® System
- Global medical devices market projected to reach $670.6 billion by 2025
- Significant opportunity for companies to develop and commercialize groundbreaking medical solutions
