Funds to be used for general corporate purposes, sales and marketing
By Devika Patel
Knoxville, Tenn., Sept. 20 - Miraculins Inc. said it raised C$430,000 in the first tranche of a C$1 million non-brokered private placement of units. The deal priced Sept. 12.
The company is selling 16,666,666 units of one common share and a half-share warrant at C$0.06 per unit. It sold 7,166,667 units in the initial tranche.
Each whole warrant is exercisable at C$0.10 for one year. The strike price is a 66.67% premium to the Sept. 11 closing share price of C$0.06.
Proceeds will be used for general corporate purposes including sales and marketing costs.
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: | 16,666,666
|
| Price: | C$0.06
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | One year
|
| Warrant strike price: | C$0.10
|
| Agent: | Non-brokered
|
| Pricing date: | Sept. 12
|
| Settlement date: | Sept. 20 (for C$430,000)
|
| Stock symbol: | TSX Venture: MOM
|
| Stock price: | C$0.06 at close Sept. 11
|
| Market capitalization: | C$6.29 million
|
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