By Devika Patel
Knoxville, Tenn., June 10 - Critical Outcome Technologies Inc. said it will conduct a C$5.5 million private placement of units.
The company will sell units of one common share and one half-share warrant at C$0.85 apiece. Each whole warrant will be exercisable at C$1.11 for three years.
Siegfried Gutsche is the agent.
Settlement is expected on July 10.
Proceeds will be used for multiple purposes, including accelerating the development of COTI-2, the company's lead oncology compound, through a phase 1B clinical trial, advancing development and research of multiple products from its robust pipeline and for other business expansion purposes.
Based in London, Ont., Critical helps deliver new drug therapies.
| Issuer: | Critical Outcome Technologies Inc.
|
| Issue: | Units of one common share and one half-share warrant
|
| Amount: | C$5.5 million
|
| Price: | C$0.85
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Three years
|
| Warrant strike price: | C$1.11
|
| Agent: | Siegfried Gutsche
|
| Pricing date: | June 10
|
| Settlement date: | July 10
|
| Stock symbol: | TSX Venture: COT
|
| Stock price: | C$0.70 at close June 9
|
| Market capitalization: | C$36.9 million
|
© 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.
