By Laura Lutz
Des Moines, June 15 - Genetic Diagnostics Technologies Corp. plans to complete a private placement of units for up to C$1 million.
The company intends to sell about 4,545,455 units of one share and one half-share warrant at C$0.22 per unit. Each whole warrant will be exercisable at C$0.30 for 18 months.
The offering is expected to be brokered.
Genetic Diagnostics will settle the placement alongside a planned business combination with Polar Mining Corp.
Proceeds will be used for working capital, including exploration and drilling.
Toronto-based Genetic Diagnostics focuses on DNA-testing technologies.
| Issuer: | Genetic Diagnostics Technologies Corp.
|
| Issue: | Units of one share and one half-share warrant
|
| Amount: | C$1 million
|
| Units: | 4,545,455
|
| Price: | C$0.22
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | 18 months
|
| Warrant strike price: | C$0.30
|
| Pricing date: | June 15
|
| Stock symbol: | TSX Venture: GDD
|
| Stock price: | C$0.15 at close June 15
|
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