By Devika Patel
Knoxville, Tenn., Nov. 30 - Lorus Therapeutics Inc. said it completed a C$2.46 million private placement of units on Nov. 27.
The company sold 41 million units of one common share and one half-share warrant at C$0.06 per unit. Each whole warrant is exercisable at C$0.08 until May 27, 2011.
Proceeds will be used for clinical and preclinical programs.
Toronto-based Lorus develops therapeutics and technologies to treat cancer.
| Issuer: | Lorus Therapeutics Inc.
|
| Issue: | Units of one common share and one half-share warrant
|
| Amount: | C$2.46 million
|
| Units: | 41 million
|
| Price: | C$0.06
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | May 27, 2011
|
| Warrant strike price: | C$0.08
|
| Settlement date: | Nov. 27
|
| Stock symbol: | Toronto: LOR
|
| Stock price: | C$0.055 at close Nov. 27
|
| Market capitalization: | C$19.3 million
|
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