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MedMira gets C$10 million equity line
By Sheri Kasprzak
New York, Nov. 22 - MedMira Inc. said it secured a C$10 million equity line from Cornell Capital Partners, LP.
Over the next 58 months, Cornell may buy shares of MedMira at a percentage of the volume-weighted average price over a 10-day period before a draw. The exact pricing of the equity line could not be determined Tuesday.
MedMira may not draw more than C$150,000 in a single draw.
Halifax, N.S.-based MedMira manufactures and markets in vitro flow-through rapid diagnostic tests. The company's stock remained unchanged C$0.59 on Tuesday.
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