By Devika Patel
Knoxville, Tenn., May 8- Medworxx Solutions Inc. said it has arranged a C$2.5 million private placement of units.
The company will sell units of one common share and one half-share warrant at C$0.18 per unit.
Each whole two-year warrant will be exercisable at C$0.26.
Loewen, Ondaatje, McCutcheon Ltd. is the agent.
Proceeds will be used for sales and marketing of the Medworxx Emergency Readiness System, additional research and development of the Medworxx software platform, strategic acquisitions and working capital purposes.
Medworxx is a Mississauga, Ont., capital pool company.
| Issuer: | Medworxx Solutions Inc
|
| Issue: | Units of one common share and one half-share warrant
|
| Amount: | C$2.5 million
|
| Price: | C$0.18
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.26
|
| Agent: | Loewen, Ondaatje, McCutcheon Ltd.
|
| Pricing date: | May 8
|
| Stock symbol: | TSX Venture: MWX
|
| Stock price: | C$0.20 at close May 7
|
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