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.
|
| Issue: | Common stock
|
| Amount: | C$2,788,202
|
| Shares: | 9,294,005
|
| Price: | C$0.30
|
| Warrants: | No
|
| Agent: | Non-brokered
|
| Announcement date: | Feb. 10
|
| Settlement date: | March 7
|
| Stock symbol: | TSX Venture: IMV
|
| Stock price: | C$0.34 at close March 6
|
| Market capitalization: | C$18.36 million
|
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