By Devika Patel
Knoxville, Tenn., March 26 - MedMira Inc. priced a C$5 million private placement of units.
The company plans to sell units of one common share and one half-share warrant at C$0.26 apiece. Each whole warrant will be exercisable at C$0.33 for two years.
Loewen, Ondaatje, McCutcheon Ltd. is the agent.
Proceeds will be used to strengthen the company's market initiatives, obtain FDA approvals for products and for development and general operation purposes.
MedMira, based in Halifax, N.S., manufactures and markets in vitro flow-through rapid diagnostic tests.
| Issuer: | MedMira Inc.
|
| Issue: | Units of one common share and one half-share warrant
|
| Amount: | C$5 million
|
| Price: | C$0.26
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.33
|
| Agent: | Loewen, Ondaatje, McCutcheon Ltd.
|
| Pricing date: | March 26
|
| Stock symbol: | TSX Venture: MIR
|
| Stock price: | C$0.275 at close March 25
|
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