By Devika Patel
Knoxville, Tenn., Nov. 11 - Chemaphor Inc. said it settled a C$1.5 million non-brokered private placement of units with a C$234,950 second tranche.
The deal priced on Sept. 28, and the company raised C$1,264,878 in the first tranche on Oct. 23.
The company sold 8,432,517 units in the first tranche and 1,566,333 units in the second tranche at C$0.15 apiece. The units consist of one common share and one warrant. Each warrant will be exercisable at C$0.20 for five years.
Proceeds will be used for working capital, research and development 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$1,499,828
|
| Units: | 9,998,850
|
| Price: | C$0.15
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Five years
|
| Warrant strike price: | C$0.20
|
| Agent: | Non-brokered
|
| Pricing date: | Sept. 28
|
| Settlement date: | Oct. 23 (for C$1,264,878), Nov. 11 (for C$234,950)
|
| Stock symbol: | TSX Venture: CFR
|
| Stock price: | C$0.12 at close Sept. 25
|
| Market capitalization: | C$4.01 million
|
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