CalciTech to raise $1.5 million in private placement of units

By Sheri Kasprzak

Atlanta, Nov. 18 - CalciTech Ltd. said Thursday it plans to raise $1.5 million in a private placement.

The company's management refused to comment on the pricing of the deal Thursday and said the details of the deal will be announced in the near future.

The deal will, however, consist of units with warrants exercisable over one and two years.

Based in Hamilton, Bermuda, CalciTech is a mineral technology company focused on technology that converts industrial lime waste with carbon dioxide into a specialty mineral.

The company plans to use the proceeds from the financing for its small-scale plant in Germany, to fund completion of its patent applications for its CalciTech project and for the production and delivery of its new product, CalciRG. The company will use the remainder of the proceeds for working capital.

On Thursday, the company's stock closed up $0.0025 at $0.19.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.