By Devika Patel
Knoxville, Tenn., Aug. 29 - IRI Separation Technologies Inc. announced it has completed the second tranche of a private placement of units, raising C$30,450.
The company sold 87,000 units at C$0.35 per unit. Each unit consists of one share and one warrant. Each warrant is exercisable for two years at C$0.45.
The company did not pay any finder's fees in this tranche.
In the first tranche, settled on Aug. 9, the company issued 9,857,143 units and raised C$3.45 million. IRI paid a 10% cash finder's fee for this sale.
Proceeds will be used for general working capital and to purchase additional equipment to increase antibody production.
All securities have a four-month hold period.
IRI is a biotechnology company based in Vancouver, B.C.
| Issuer: | IRI Separation Technologies Inc.
|
| Issue: | Units of one share and one warrant
|
| Amount: | C$30,450
|
| Units: | 87,000
|
| Price: | C$0.35
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.45
|
| Pricing date: | Aug. 9
|
| Settlement date: | Aug. 29
|
| Stock symbol: | TSX Venture: IRI
|
| Stock price: | C$0.33 at close Aug. 28
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
