By Sheri Kasprzak
New York, April 5 - DPC Biosciences Corp. said it intends to raise up to C$4.4 million in a private placement of units.
The deal includes up to 22 million units of one share and one half-share warrant with each whole warrant exercisable at C$0.30 at 18 months.
The offering is being conducted in connection with DPC's plans to reactivate. The company currently has no operations and is seeking regulatory approval to change its operations. DPC plans to move from the biotechnology field to the online gaming business.
As part of the change of operations, the company's name will be changed to iGaming Corp.
Proceeds from the private placement will be used to acquire online gaming-related businesses or assets, to fund the implementation of the company's new business model and to provide working capital.
DPC is based in Vancouver, B.C.
| Issuer: | DPC Biosciences Corp.
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| Issue: | Units of one share and one half-share warrant
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| Amount: | C$4.4 million (maximum)
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| Units: | 22 million (maximum)
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| Price: | C$0.20
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| Warrants: | One half-share warrant per unit
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| Warrant expiration: | 18 months
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| Warrant strike price: | C$0.30
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| Pricing date: | April 5
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| Stock symbol: | TSX Venture: DPC
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| Stock price: | C$0.255 at close April 5
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