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Biotricity raises $2.5M via common stock offering

Biotricity Inc. sold 450,164 common shares to existing investors at $5.50 apiece for gross proceeds of about $2.5 million.

The proceeds from the financing will be used to accelerate Biotricity's go-to-market commercialization plan, including onboarding new sales staff, expanding strategic partnerships, developing the company's brand and corporate positioning, and starting sales of Bioflux.

Earlier in December, the U.S. Food and Drug Administration granted 510(k) clearance to Biotricity's Bioflux device.

Bioflux consists of a proprietary mobile electrocardiography, or ECG, monitoring device and an ECG viewer software package that enables physicians to remotely monitor and diagnose patients with cardiovascular coronary heart disease.