By Laura Lutz
Des Moines, Jan. 4 - Ecopia BioSciences Inc. plans to conduct a private placement of units for at least C$30 million.
The placement is expected to consist of units of one share and one half-share warrant at C$0.25 per unit. Each whole warrant will be exercisable at C$0.375 for three years.
Picchio Pharma Inc. agreed to subscribe for C$4 million. Picchio is a joint venture owned by FMRC Family Trust and Power Technology Investment Corp, a subsidiary of Power Corp. of Canada.
Completion of the placement is required under a combination agreement between Ecopia and Caprion Pharmaceuticals Inc.
Desjardins Securities Inc. and Dundee Securities Inc. will be co-lead agents for the placement.
Based in Montreal, Ecopia is a biopharmaceutical company focused on developing anticancer therapies from soil-dwelling microorganisms.
| Issuer: | Ecopia BioSciences Inc.
|
| Issue: | Units of one share and one half-share warrant
|
| Amount: | C$30 million (minimum)
|
| Price: | C$0.25
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Three years
|
| Warrant strike price: | C$0.375
|
| Investor: | Picchio Pharma Inc. (for C$4 million)
|
| Agents: | Desjardins Securities Inc. (lead), Dundee Securities Inc. (lead)
|
| Pricing date: | Jan. 4
|
| Stock symbol: | Toronto: EIA
|
| Stock price: | C$0.49 at close Jan. 4
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