By Sheri Kasprzak
New York, March 3 - ViRexx Medical Corp. said it intends to raise up to C$2 million in a non-brokered private placement.
The deal includes up to 1,666,666 units at C$1.20 each.
The units consist of one share and one warrant. Each warrant is exercisable at C$1.75 for two years.
The deal is scheduled to close April 18.
Proceeds will be used for product development, working capital and general corporate purposes.
Based in Edmonton, Alta., ViRexx develops treatments for cancers and hepatitis B and C.
| Issuer: | ViRexx Medical Corp.
|
| Issue: | Units of one share and one warrant
|
| Amount: | C$2 million (maximum)
|
| Units: | 1,666,666 (maximum)
|
| Price: | C$1.20
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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$1.75
|
| Placement agent: | Non-brokered
|
| Pricing date: | March 3
|
| Settlement date: | April 18
|
| Stock symbol: | Toronto: VIR
|
| Stock price: | C$1.38 at close March 3
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