By Laura Lutz
Pittsburgh, Jan. 24 - Inflazyme Pharmaceuticals Ltd. negotiated a private placement of units for C$3 million.
The company agreed to sell 17.6 million units of one share and one half-share warrant at C$0.17 per unit. Each whole warrant will be exercisable at C$0.29 for one year.
Settlement of the non-brokered placement is expected by Jan. 29.
Proceeds will be used for evaluation of data from the company's clinical trials.
Based in Vancouver, B.C., Inflazyme is a biopharmaceutical company focused on respiratory and inflammatory diseases.
| Issuer: | Inflazyme Pharmaceuticals Ltd.
|
| Issue: | Units of one share and one half-share warrant
|
| Amount: | C$3 million
|
| Units: | 17.6 million
|
| Price: | C$0.17
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | One year
|
| Warrant strike price: | C$0.29
|
| Agent: | Non-brokered
|
| Pricing date: | Jan. 24
|
| Settlement date: | Jan. 29
|
| Stock symbol: | Toronto: IZP
|
| Stock price: | C$0.205 at close Jan. 23
|
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