Proceeds will be used to fund operations of Hong Kong subsidiary
By Susanna Moon
Chicago, May 2 – FPS Pharma Inc. said it has arranged a $2.5 million non-brokered private placement of shares.
The company will sell 5 million common shares at a price of $0.50 each, according to a company announcement.
Proceeds have been slated to fund the operations of FPS Pharma Asia Ltd., the company’s wholly owned Hong Kong subsidiary, and for general corporate purposes.
The shares will be subject to a statutory four month and one day hold period.
FPS provides pharmacy services and is based in Calgary, Alta.
| Issuer: | FPS Pharma Inc.
|
| Issue: | Common stock
|
| Amount: | $2.5 million
|
| Shares: | 5 million
|
| Price: | $0.50
|
| Warrants: | No
|
| Agent: | Non-brokered
|
| Settlement date: | May 25
|
| Stock symbol: | OTC: FPSUF
|
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