Brokered offering was conducted by Bolder Investment Partners
By Devika Patel
Knoxville, Tenn., Aug. 27 - IntelGenx Technologies Corp. announced that it completed a C$2.6 million private placement of units. Bolder Investment Partners, Ltd. was the agent for the deal, which priced for C$2.5 million on July 28.
The company sold 6.5 million units of one common share and one warrant at C$0.40 apiece. Each warrant is exercisable at C$0.50, a 21.95% premium to the July 27 closing share price of C$0.41, until Aug. 27, 2013.
Proceeds will be used for the continued development and commercialization of drugs, working capital and capital expenditures.
Located in Saint Laurent, Quebec, IntelGenx develops oral controlled-release products, including smoking-cessation products.
| Issuer: | IntelGenx Technologies Corp.
|
| Issue: | Units of one common share and one warrant
|
| Amount: | C$2.6 million
|
| Units: | 6.5 million
|
| Price: | C$0.40
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Aug. 27, 2013
|
| Warrant strike price: | C$0.50
|
| Agent: | Bolder Investment Partners, Ltd.
|
| Pricing date: | July 28
|
| Settlement date: | Aug. 27
|
| Stock symbol: | TSX Venture: IGX
|
| Stock price: | C$0.41 at close July 28
|
| Market capitalization: | C$11.25 million
|
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