By Sheri Kasprzak
New York, Feb. 16 - ViRexx Medical Corp. said it has concluded a private placement for C$12 million.
The company issued 10,909,090 units at C$1.10 each.
The units are comprised of one share and one warrant. The warrants are exercisable at C$1.50 each for two years.
Proceeds will be used to fund clinical trials of the company's Occlusin and HepaVaxx B products.
Based in Edmonton, Alta., ViRexx develops treatments for cancers and hepatitis B and C.
| Issuer: | ViRexx Medical Corp.
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| Issue: | Units of one share and one warrant
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| Amount: | C$12 million
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| Units: | 10,909,090
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| Price: | C$1.10
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| Warrants: | One warrant per unit
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| Warrant expiration: | Two years
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| Warrant strike price: | C$1.50
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| Settlement date: | Feb. 16
|
| Stock symbol: | Toronto: VIR
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| Stock price: | C$1.43 at close Feb. 15
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