Non-brokered deal consists of 8 million shares sold at C$0.40 apiece
By Devika Patel
Knoxville, Tenn., Oct. 28 - Immunovaccine Inc. said it plans to raise at least C$3.2 million in a non-brokered private placement of stock.
The company will sell a minimum of 8 million shares at C$0.40 apiece. The price per share reflects a 9.09% discount to the Oct. 25 closing share price of C$0.44.
Settlement is expected Nov. 15.
Proceeds will be used for general corporate purposes.
Immunovaccine is a clinical stage vaccine development company based in Halifax, N.S.
| Issuer: | Immunovaccine Inc.
|
| Issue: | Common stock
|
| Amount: | C$3.2 million
|
| Shares: | 8 million (minimum)
|
| Price: | C$0.40
|
| Warrants: | No
|
| Agent: | Non-brokered
|
| Pricing date: | Oct. 28
|
| Settlement date: | Nov. 15
|
| Stock symbol: | TSX Venture: IMV
|
| Stock price: | C$0.44 at close Oct. 25
|
| Market capitalization: | C$28.73 million
|
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