IoGold Goes Public on Alberta Stock Exchange

A local life sciences company reached an important milestone recently as it joined the Alberta Stock Exchange.

IoGold Systems Canada Inc., a subsidiary of IoSolutions Inc., a client at InNOVAcorp's Technology Innovation Centre, and a Nova Scotia First Fund investee, first traded on June 18 under the symbol IOG. The company provides safe effective water disinfection technologies to the agriculture industry, using new iodine technologies.

"We congratulate IoGold on their success," said InNOVAcorp CEO Ross McCurdy. "This company is the first in our portfolio to be reoffered on a public exchange. This accomplishment allows them to repay their debt to InNOVAcorp, which in turn means more in our investment fund. And that means more support for more companies."

Under the terms of its existing investment, InNOVAcorp will receive a principal repayment of $50,000 plus interest. Further payments over the next two years will add $75,000, which represents a profit on the original investment.

"We're very excited about this new stage in our company's development," said IoGold president Wayne Harvey.

InNOVAcorp offers investment financing as just one of an array of options to entrepreneurs to help them commercialize their technology-based products and services. To date, InNOVAcorp has made or committed to 11 investments representing roughly $5.6 million out of its $12 million venture capital investment fund.

Investments are made in innovative Nova Scotia-based companies who meet specific investment criteria. InNOVAcorp expects to make a total of about eight new investments this year.