By Devika Patel
Knoxville, Tenn., Feb. 10 - Advitech Inc. said it will conduct a C$1 million private placement of units with AgeChem Venture Fund LP.
The company will sell 50 million units of one share and one warrant at C$0.02 per unit. Each five-year warrant will be exercisable at C$0.05 for the first year and at C$0.10 the next four years.
Advitech is a Montreal biotechnology company.
| Issuer: | Advitech Inc.
|
| Issue: | Units of one share and one warrant
|
| Amount: | C$1 million
|
| Units: | 50 million
|
| Price: | C$0.02
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Five years
|
| Warrant strike price: | C$0.05 the first year, C$0.10 thereafter
|
| Investor: | AgeChem Venture Fund LP
|
| Pricing date: | Feb. 10
|
| Stock symbol: | TSX Venture: AVI
|
| Stock price: | C$0.025 at close Feb. 9
|
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