Human in Motion Robotics Announces Closing of Oversubscribed $2.7M Financing
Vancouver, B.C., March 26, 2020- Human in Motion Robotics (HMR) announces that its
C$2.25M financing has now closed and has been oversubscribed for a total amount of
C$2.729M. Funds raised will be allocated to advancing the Company’s exoskeleton technology
towards commercialization.
The first tranche of the financing closed on November 15, 2019 in the amount of $1.828M with
the second tranche of the financing now closed in the amount of $0.901M for total proceeds of
$2.729M. The additional funds available through the oversubscription were accepted by HMR to
accelerate the company’s clinical, regulatory, and partnership objectives.
Developed for people living with a wide range of mobility challenges, particularly those with little
to no lower limb function, HMR’s patented exoskeleton technology enables users to stand and
walk without need of crutches or an attendant. Millions of wheelchair users will have the
freedom of choice to go about a number of their daily activities in a standing position and walk
with a natural gait, mitigating the health consequences of being permanently confined to a
seated position.
At this time, HMR’s technology and device are in development and not available on the market
in any country. The Company will be providing regular progress updates over the coming
months.