By Sheri Kasprzak
New York, Nov. 18 - Millenium Biologix Corp. said it plans to raise at least C$15 million in a private placement of units.
The offering includes at least 60 million units at C$0.25 each.
The units are composed of one share and one half-share warrant. The whole warrants are exercisable at C$0.45 each for three years.
The deal is expected to close Dec. 1.
The offering is being placed through a syndicate of underwriters led by Canaccord Capital Corp. and RBC Capital Markets, and including Clarus Securities Inc. and Toll Cross Securities Inc.
Proceeds will be used for research and development, corporate expansion, sales and marketing and general corporate purposes.
Based in Kingston, Ont., Millenium is a biomedical company focused on developing minimally invasive medical devices and skeletal tissue regeneration products for orthopedic uses.
| Issuer: | Millenium Biologix Corp.
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| Issue: | Units of one share and one half-share warrant
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| Amount: | C$15 million (minimum)
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| Units: | 60 million (minimum)
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| Price: | C$0.25
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| Warrants: | One half-share warrant per unit
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| Warrant expiration: | Three years
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| Warrant strike price: | C$0.45
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| Underwriters: | Canaccord Capital Corp (co-lead), RBC Capital Markets (co-lead); Clarus Securities Inc., Toll Cross Securities Inc.
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| Pricing date: | Nov. 18
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| Settlement date: | Dec. 1
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| Stock price: | C$0.295 at close Nov. 18
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