By Devika Patel
Knoxville, Tenn., Nov. 13 - Microbix Biosystems Inc. announced it has raised C$6.83 million in a private placement of units.
The company sold 6.5 million units at C$1.05 per unit. Each unit consists of one common share and one half-share warrant. Each whole warrant will be exercisable at C$1.26 for five years.
The financing was conducted by a syndicate of agents led by Dundee Securities Corp. and including J.F. Mackie & Co. Ltd.
Proceeds will be used for expansion.
Toronto-based Microbix is a biotechnology company focused on large-market biotherapeutic drugs, vaccines and animal reproduction technologies.
| Issuer: | Microbix Biosystems Inc.
|
| Issue: | Units of one common share and one half-share warrant
|
| Amount: | C$6,825,000
|
| Units: | 6.5 million
|
| Price: | C$1.05
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Five years
|
| Warrant strike price: | C$1.26
|
| Agent: | Dundee Securities Corp. (lead), J.F. Mackie & Co. Ltd.
|
| Settlement date: | Nov. 13
|
| Stock symbol: | Toronto: MBX
|
| Stock price: | C$1.16 at close Nov. 13
|
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