Funds to be used for general corporate purposes, sales and marketing
By Devika Patel
Knoxville, Tenn., March 25 - Miraculins Inc. said it plans a C$1 million non-brokered private placement of units.
The company will sell 11,111,111 units of one common share and a half-share warrant at C$0.09 per unit.
Each whole warrant is exercisable at C$0.11 for one year. The strike price is a 37.5% premium to the March 22 closing share price of C$0.08.
Proceeds will be used for general corporate purposes, including sales and marketing costs related to the company's PreVu Skin Cholesterol Test.
Based in Winnipeg, Man., Miraculins is a medical diagnostic development company focused on non-invasive tests for unmet clinical needs.
| Issuer: | Miraculins Inc.
|
| Issue: | Units of one common share and a half-share warrant
|
| Amount: | C$1 million
|
| Units: | 11,111,111
|
| Price: | C$0.09
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | One year
|
| Warrant strike price: | C$0.11
|
| Agent: | Non-brokered
|
| Pricing date: | March 25
|
| Stock symbol: | TSX Venture: MOM
|
| Stock price: | C$0.08 at close March 22
|
| Market capitalization: | C$7.44 million
|
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