By Laura Lutz
Washington, Feb. 2 - Chromos Molecular Systems Inc. plans to raise about C$8 million from a private placement of units.
The company intends to sell units of one share and one half-share warrant at C$0.15 per unit. Each whole warrant will be exercisable at C$0.20 for five years.
The placement will be co-led by Dundee Securities Corp., Canaccord Capital Corp. and Clarus Securities Inc. as agents.
Most of the proceeds will be used for the commercialization and expansion of the company's cell line engineering business. The remainder will be used for working capital and general corporate purposes.
Chromos is a biopharmaceutical company based in Burnaby, B.C.
| Issuer: | Chromos Molecular Systems Inc.
|
| Issue: | Units of one share and one half-share warrant
|
| Amount: | C$8 million
|
| Price: | C$0.15
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Five years
|
| Warrant strike price: | C$0.20
|
| Agents: | Dundee Securities Corp., Canaccord Capital Corp., Clarus Securities Inc.
|
| Pricing date: | Feb. 2
|
| Stock symbol: | Toronto: CHR
|
| Stock price: | C$0.15 at close Feb. 1
|
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