Non-brokered deal procures funds for general working capital purposes
By Devika Patel
Knoxville, Tenn., Feb. 25 – InMed Pharmaceuticals, Inc. said it completed a C$1.05 million non-brokered private placement of units. The deal priced for C$500,000 on Feb. 10.
The company sold 10.5 million units of one common share and one warrant at C$0.10 per unit, with each warrant exercisable at C$0.13 for two years. The strike price is a 58.07% discount to C$0.31, the Feb. 24 closing share price.
Proceeds will be used for general working capital purposes.
The biopharmaceutical company is based in Vancouver, B.C.
| Issuer: | InMed Pharmaceuticals, Inc.
|
| Issue: | Units of one common share and one warrant
|
| Amount: | C$1.05 million
|
| Units: | 10.5 million
|
| Price: | C$0.10
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.13
|
| Agent: | Non-brokered
|
| Pricing date: | Feb. 10
|
| Settlement date: | Feb. 25
|
| Stock symbol: | CNSX: IN
|
| Stock price: | C$0.31 at close Feb. 24
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
