By Sheri Kasprzak
Atlanta, Dec. 10 - Altachem Pharma Ltd. said Friday it will raise up to C$1.5 million in a non-brokered private placement.
The company intends to issue 6 million units at C$0.25 each. The units are comprised of one share and one half-share warrant.
The whole warrants allow for an additional share at C$0.45 for one year.
The offering is being made to investors in Alberta, British Columbia, Ontario and the Northwest Territories.
Based in Edmonton, Alta., Altachem is a pharmaceutical company focused on developing and commercializing pharmaceutical products. The company plans to use the proceeds from the deal for general corporate purposes and working capital.
| Issuer: | Altachem Pharma Ltd.
|
| Issue: | Units of one share and one half-share warrant
|
| Amount: | C$1.5 million
|
| Shares: | 6 million units
|
| Price: | C$0.25
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | One year
|
| Warrant strike price: | C$0.45
|
| Announcement date: | Dec. 10
|
| Stock price: | C$0.205 at close Dec. 8 (last trade)
|
|
|
© 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.
