By Devika Patel
Knoxville, Tenn., Nov. 16 - Med BioGene Inc. said it plans a C$2.5 million non-brokered private placement of units.
The company will sell units of one common share and one half-share warrant at C$0.14 per unit. Each whole warrant will be exercisable at C$0.20 for two years.
Proceeds will be used for the development and commercialization of LungExpress Dx and general corporate purposes.
Vancouver, B.C.-based Med BioGene is a biotechnology company focused on development and commercialization of genomic-based personalized clinical laboratory diagnostic tests.
| Issuer: | Med BioGene Inc.
|
| Issue: | Units of one common share and one half-share warrant
|
| Amount: | C$2.5 million
|
| Price: | C$0.14
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.20
|
| Agent: | Non-brokered
|
| Pricing date: | Nov. 16
|
| Stock symbol: | TSX Venture: MBI
|
| Stock price: | C$0.14 at close Nov. 16
|
| Market capitalization: | C$8.44 million
|
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