By Devika Patel
Knoxville, Tenn., Oct. 2 - Medicure Inc. said it has completed a $16 million private placement of shares. The deal priced on Aug. 21 for $15 million.
The company sold 13,910,000 common shares at $1.15 each.
The investors also received warrants for 4,170,000 additional shares, exercisable at $1.50 per share for five years.
Proceeds will be used for research, development, sales and marketing.
Medicure is a biopharmaceutical company based in Winnipeg, Man.
| Issuer: | Medicure Inc.
|
| Issue: | Common shares
|
| Amount: | $16 million
|
| Shares: | 13,910,000
|
| Price: | $1.15
|
| Warrants: | For 4,170,000 shares
|
| Warrant expiration: | Five years
|
| Warrant strike price: | $1.50
|
| Pricing date: | Aug. 21
|
| Settlement date: | Oct. 2
|
| Stock symbol: | Toronto: MPH
|
| Stock price: | C$1.22 at close Aug. 20
|
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