Cancer therapeutics company to use funds for LOR-2040 clinical program
By Devika Patel
Knoxville, Tenn., Dec. 1 - Lorus Therapeutics Inc. said it has settled a private placement of stock. The offering raised C$1.66 million.
The company sold 1,581,667 common shares at C$1.05 apiece. The price per share is an 8.7% discount to the Nov. 30 closing share price of C$1.15.
Company director Herbert Abramson invested C$1.48 million.
Proceeds will be used for the company's LOR-2040 clinical program, as well as for working capital and for general corporate purposes.
Toronto-based Lorus develops therapeutics and technologies to treat cancer.
| Issuer: | Lorus Therapeutics Inc.
|
| Issue: | Common stock
|
| Amount: | C$1,660,750
|
| Shares: | 1,581,667
|
| Price: | C$1.05
|
| Warrants: | No
|
| Investor: | Herbert Abramson (for C$1,480,500)
|
| Settlement date: | Dec. 1
|
| Stock symbol: | Toronto: LOR
|
| Stock price: | C$1.15 at close Nov. 30
|
| Market capitalization: | C$15.51 million
|
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