New York, Oct. 23 - Chemaphor Inc. said it completed a C$1,264,877.55 private placement of units.
The final size was slightly smaller than the maximum of C$1.5 million originally announced.
Chemaphor sold a total of 8,432,517 units of one common share and one warrant at C$0.15 apiece. Each warrant will be exercisable at C$0.20 for five years.
The placement was announced as non-brokered but the company said at the time it planned to use agents, which it did. Commissions of C$101,487.75 and 843,251 warrants were paid.
Proceeds will be used for working capital and research and development expenditures and for general corporate purposes.
Based in Ottawa, Chemaphor develops pharmaceuticals, skin care products, animal health products and specialty chemicals.
| Issuer: | Chemaphor Inc.
|
| Issue: | Units of one common share and one warrant
|
| Amount: | C$1,264,877.55
|
| Units: | 8,432,517
|
| Price: | C$0.15z
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Five years
|
| Warrant strike price: | C$0.20
|
| Agent: | Non-brokered
|
| Pricing date: | Sept. 28
|
| Stock symbol: | TSX Venture: CFR
|
| Stock price: | C$0.12 at close Sept. 25, C$0.18 at close Oct. 23
|
| Market capitalization: | C$2.67 million
|
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