Non-brokered offering sells 1.25 million common shares at C$0.80 each
By Devika Patel
Knoxville, Tenn., July 22 – Avagenesis Corp. said it raised C$342,920 in the first tranche of a C$1 million non-brokered private placement of stock. The deal priced on June 3.
The company is selling 1.25 million common shares at C$0.80 apiece, which is identical to the June 2 closing share price. It sold 428,650 shares in the initial tranche.
Proceeds will be used as future working capital, including sales and marketing, product improvements and general operating expenses.
The biotechnology company is based in Calgary, Alta.
| Issuer: | Avagenesis Corp.
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| Issue: | Common shares
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| Amount: | C$1 million
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| Shares: | 1.25 million
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| Price: | C$0.80
|
| Warrants: | No
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| Agent: | Non-brokered
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| Pricing date: | June 3
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| Settlement date: | July 22 (for C$342,920)
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| Stock symbol: | TSX Venture: VVA
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| Stock price: | C$0.80 at close June 2
|
| Market capitalization: | C$41.91 million
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