By Laura Lutz
Washington, Dec. 11 - Osta Biotechnologies Inc. wrapped a private placement of units for C$1,090,250.
The company sold 4.361 million units of one share and one warrant at C$0.25 per unit. Each warrant is exercisable at C$0.40 for two years.
Proceeds will be used for research and development, working capital and general corporate purposes.
Sherbrooke Street Capital Inc. acted as lead agent for the deal.
Following the placement, Osta has 32,706,196 shares outstanding.
Osta is a Montreal-based biopharmaceutical company focused on Alzheimer's disease, osteoporosis and cancer.
| Issuer: | Osta Biotechnologies Inc.
|
| Issue: | Units of one share and one warrant
|
| Amount: | C$1,090,250
|
| Units: | 4.361 million
|
| Price: | C$0.25
|
| Warrants: | One per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.40
|
| Agent: | Sherbrooke Street Capital Inc.
|
| Settlement date: | Dec. 11
|
| Stock symbol: | TSX Venture: OBI
|
| Stock price: | C$0.25 at close Dec. 8
|
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