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Mistral Pharma to sell units in private placement
By Devika Patel
Knoxville, Tenn., Feb. 27 - Mistral Pharma Inc. said it plans to conduct a private placement of units.
The company will sell units of one common share and a half-share warrant. Each whole warrant will be exercisable for two years.
Loewen, Ondaatje, McCutcheon Ltd. is the lead agent.
Proceeds will be placed in escrow pending completion of all conditions necessary for Mistral's planned business combination with a private U.S.-based specialty pharmaceutical company, including approval by Mistral shareholders and securing a minimum amount of financing through the private placement. In the event the combination is not completed, the escrowed funds will be returned to the subscribers.
Mistral is a pharmaceutical company in Montreal.
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