Non-brokered deal consists of 9,294,005 shares sold at C$0.30 apiece
By Devika Patel
Knoxville, Tenn., March 7 - Immunovaccine Inc. said it completed a C$2.79 million non-brokered private placement of stock. Plans for the deal were announced on Feb. 10.
The company sold 9,294,005 shares at C$0.30 apiece. The price per share reflects an 11.77% discount to the March 6 closing share price of C$0.34.
Proceeds will be used for research and development activities and other corporate purposes.
Immunovaccine is a clinical-stage vaccine development company based in Halifax, N.S.
Issuer: | Immunovaccine Inc.
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Issue: | Common stock
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Amount: | C$2,788,202
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Shares: | 9,294,005
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Price: | C$0.30
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Warrants: | No
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Agent: | Non-brokered
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Announcement date: | Feb. 10
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Settlement date: | March 7
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Stock symbol: | TSX Venture: IMV
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Stock price: | C$0.34 at close March 6
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Market capitalization: | C$18.36 million
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