Non-brokered deal funds clinical trial for ACP 01, analysis of results
By Devika Patel
Knoxville, Tenn., April 20 – Hemostemix Inc. said it plans a C$5 million non-brokered private placement of units.
The company will sell 12.5 million units of one common share and one warrant at C$0.40 per unit.
Each two-year warrant will be exercisable at C$0.60, a 46.34% premium to the April 19 closing share price of C$0.41.
Proceeds will be used to expand the phase 2 clinical trial for ACP 01, for an interim analysis of results and for general working capital purposes.
The Toronto biotechnology company develops and commercializes blood-derived cell therapies for medical conditions.
| Issuer: | Hemostemix Inc.
|
| Issue: | Units of one common share and one warrant
|
| Amount: | C$5 million
|
| Units: | 12.5 million
|
| Price: | C$0.40
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.60
|
| Agent: | Non-brokered
|
| Pricing date: | April 20
|
| Stock symbol: | TSX Venture: HEM
|
| Stock price: | C$0.41 at close April 19
|
| Market capitalization: | C$26.98 million
|
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