By Laura Lutz
Des Moines, March 21 - Chromos Molecular Systems Inc. arranged a private placement of units for C$4 million.
The company plans to sell 40 million units of one share and one warrant at C$0.10 per unit. Each whole warrant will be exercisable at C$0.15 for five years.
A syndicate led by Dundee Securities Corp. and including Canaccord Capital Corp. will underwrite the deal.
Most of the proceeds will be used to commercialize and expand the company's cell-line engineering business, to repay its bridge loan financing and to develop CHR-1103, its lead product. The rest of the proceeds will be used for working capital and general corporate purposes.
Settlement is expected on April 6.
Based in Burnaby, B.C., Chromos is a biopharmaceutical company focused on inflammatory diseases and thrombotic disorders.
Issuer: | Chromos Molecular Systems Inc.
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Issue: | Units of one share and one warrant
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Amount: | C$4 million
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Units: | 40 million
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Price: | C$0.10
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Warrants: | One per unit
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Warrant expiration: | Five years
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Warrant strike price: | C$0.15
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Underwriters: | Dundee Securities Corp. (lead), Canaccord Capital Corp.
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Pricing date: | March 21
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Settlement date: | April 6
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Stock symbol: | Toronto: CHR
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Stock price: | C$0.13 at close March 21
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