By Laura Lutz
Des Moines, April 20 - Microbix Biosystems Inc. completed a private placement of units for C$1.05 million.
The company sold 1.5 million units of one share and one half-share warrant at C$0.70 per unit. Each whole warrant will be exercisable at C$0.90 for 18 months.
A company press release said the dealer was a "large Canadian financial institution."
The deal was non-brokered.
Proceeds will be used for the company's Urokinase product.
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 share and half-share warrant
|
| Amount: | C$1.05 million
|
| Units: | 1.5 million
|
| Price: | C$0.70
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | 18 months
|
| Warrant strike price: | C$0.90
|
| Agent: | Non-brokered
|
| Settlement date: | April 20
|
| Stock symbol: | Toronto: MBX
|
| Stock price: | C$0.62 at close April 20
|
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