Charles Vista was agent; common shares sold with five-year warrants
By Devika Patel
Knoxville, Tenn., March 6 - DelMar Pharmaceuticals, Inc. completed a $954,951 private placement of units on Feb. 28, March 1 and March 6, according to an 8-K filed Wednesday with the Securities and Exchange Commission. Charles Vista, LLC was the agent.
The company sold 1,193,689 units of one common share and one warrant at $0.80 per unit.
Each warrant is exercisable at $0.80 for five years. The strike price reflects a 76.47% discount to $3.40, the closing share price on Feb. 27.
The drug developer is based in Red Bank, N.J.
Issuer: | DelMar Pharmaceuticals, Inc.
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Issue: | Units of one common share and one warrant
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Amount: | $954,951
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Shares: | 1,193,689
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Price: | $0.80
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Warrants: | One warrant per unit
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Warrant expiration: | Five years
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Warrant strike price: | $0.80
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Agent: | Charles Vista, LLC
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Settlement date: | Feb. 28, March 1 and March 6
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Stock symbol: | OTCBB: DMPI
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Stock price: | $3.40 at close Feb. 27
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Market capitalization: | $37.84 million
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