Offering at C$0.05 per unit finances plans to reduce company's debt
By Devika Patel
Knoxville, Tenn., Jan. 31 - MedMira Inc. said it has arranged a C$1 million private placement of units with investor Andurja Beteiligungen AG.
The company will sell 20 million units of one common share and one warrant at C$0.05 apiece. Each four-year warrant will be exercisable at C$0.10, a 185.71% premium to the Jan. 30 closing share price of C$0.035.
Proceeds will be used for operations and debt reduction.
MedMira, based in Halifax, N.S., manufactures and markets in vitro flow-through rapid diagnostic tests.
| Issuer: | MedMira Inc.
|
| Issue: | Units of one common share and one warrant
|
| Amount: | C$1 million
|
| Units: | 20 million
|
| Price: | C$0.05
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Four years
|
| Warrant strike price: | C$0.10
|
| Investor: | Andurja Beteiligungen AG
|
| Pricing date: | Jan. 31
|
| Stock symbol: | TSX Venture: MIR
|
| Stock price: | C$0.04 at close Jan. 31
|
| Market capitalization: | C$8.83 million
|
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