By Devika Patel
Knoxville, Tenn., March 30 - Neovasc Inc. said it will conduct a C$2 million non-brokered private placement of units.
The company will sell approximately 9.52 million units of one common share and one half-share warrant at C$0.21apiece. Each warrant will be exercisable at C$0.30 for one year.
Proceeds will be used for continued development of a suite of new products and to help fund continuing operations.
Neovasc is a Richmond, B.C.-based medical device company.
| Issuer: | Neovasc Inc.
|
| Issue: | Units of one common share and one half-share warrant
|
| Amount: | C$2 million
|
| Units: | 9.52 million (approximate)
|
| Price: | C$0.21
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | One year
|
| Warrant strike price: | C$0.30
|
| Agent: | Non-brokered
|
| Pricing date: | March 30
|
| Stock symbol: | TSX Ventures: NVC
|
| Stock price: | C$0.28 at close March 27
|
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