Non-brokered deal sold 38.75 million common shares at C$0.055 apiece
By Devika Patel
Knoxville, Tenn., May 11 – Medifocus Inc. said it completed a C$2.13 million non-brokered private placement of stock. The deal priced for C$2.23 million on March 27.
The company sold 38.75 million common shares at C$0.055, a 37.5% premium to the March 26 closing share price of C$0.04.
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
|
| Amount: | C$2,131,250
|
| Shares: | 38.75 million
|
| Price: | C$0.055
|
| Warrants: | No
|
| Agent: | Non-brokered
|
| Pricing date: | March 27
|
| Settlement date: | May 11
|
| Stock symbol: | TSX Venture: MFS
|
| Stock price: | C$0.04 at close March 26
|
| Market capitalization: | C$5.1 million
|
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