MetaStat sells $87,500 of units through $20 million private placement

Company sells units of 5,000 common shares and 2,500 warrants

By Devika Patel

Knoxville, Tenn., Sept. 9 – MetaStat, Inc. settled an $87,500 tranche of a $20 million private placement of units on Aug. 31, according to an 8-K filed Friday with the Securities and Exchange Commission.

The company is selling 2,000 units of 5,000 common shares and warrants for 2,500 shares at $10,000 per unit. It sold 8.75 units in the initial tranche.

The warrants are exercisable at $3.00 for five years. The strike price is a 150% premium to the Aug. 30 closing share price of $1.20.

MetaStat is a Boston-based molecular diagnostic company.

Issuer:	MetaStat, Inc.
Issue:	Units of 5,000 common shares and warrants for 2,500 shares
Amount:	$20 million
Units:	2,000
Price:	$10,000
Warrants:	Warrants for 2,500 shares per unit
Warrant expiration:	Five years
Warrant strike price:	$3.00
Settlement date:	Aug. 31 (for $87,500)
Stock symbol:	OTCBB: MTST
Stock price:	$1.20 at close Aug. 30
Market capitalization:	$3.05 million

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