Non-brokered deal will sell 40,454,546 common shares at C$0.055 apiece
By Devika Patel
Knoxville, Tenn., March 27 – Medifocus Inc. said it plans a C$2.23 million non-brokered private placement of stock.
The company will sell 40,454,546 common shares at C$0.055, a 37.5% premium to the March 26 closing share price of C$0.04.
Settlement is expected April 2.
Proceeds will be used for general working capital.
The Burlington, Ont., company is developing minimally invasive, focused-heat tumor targeted cancer treatment devices and systems.
| Issuer: | Medifocus Inc.
|
| Issue: | Common stock
|
| Shares: | C$2,225,000
|
| Units: | 40,454,546
|
| Price: | C$0.055
|
| Warrants: | No
|
| Agent: | Non-brokered
|
| Pricing date: | March 27
|
| Settlement date: | April 2
|
| Stock symbol: | TSX Venture: MFS
|
| Stock price: | C$0.04 at close March 26
|
| Market capitalization: | C$5.1 million
|
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