Company sells 500 units of 200,000 common shares and 100,000 warrants
By Devika Patel
Knoxville, Tenn., Sept. 28 – Medifocus Inc. said it has arranged a $5 million non-brokered private placement of units.
The company will sell 500 units of 200,000 common shares and 100,000 warrants at $10,000 per unit. Each warrant will be exercisable at $0.10 for two years.
Proceeds will be used to expand the reach of Prolieve and for general working capital.
The medical system and device company is based in Toronto.
| Issuer: | Medifocus Inc.
|
| Issue: | Units of 200,000 common shares and 100,000 warrants
|
| Amount: | $5 million
|
| Units: | 500
|
| Price: | $10,000
|
| Warrants: | 100,000 warrants per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | $0.10
|
| Agent: | Non-brokered
|
| Pricing date: | Sept. 28
|
| Stock symbol: | TSX Venture: MFS
|
| Stock price: | C$0.06 at close Sept. 25
|
| Market capitalization: | C$7.01 million
|
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