Company sells 3,956,249 units at C$0.35 per unit in non-brokered deal
By Devika Patel
Knoxville, Tenn., Aug. 19 – GeneNews Ltd. said it raised C$1.27 million in a non-brokered private placement of units.
The company sold 3,956,249 units of one common share and one warrant at C$0.32 per unit.
Each whole warrant is exercisable at C$0.50 until Sept. 15, 2017. The strike price is a 78.57% premium to the Aug. 18 closing share price of C$0.28.
Proceeds will be used for general working capital purposes.
Toronto-based GeneNews is a molecular diagnostics company focused on developing blood-based biomarker tests for the early detection of diseases and personalized health management.
| Issuer: | GeneNews Ltd.
|
| Issue: | Units of one common share and one warrant
|
| Amount: | C$1,265,997
|
| Shares: | 3,956,249
|
| Price: | C$0.32
|
| Warrants: | One warrant per unit
|
| Warrant Expiration: | Sept. 15, 2017
|
| Warrant strike price: | C$0.50
|
| Agent: | Non-brokered
|
| Settlement date: | Aug. 19
|
| Stock symbol: | Toronto: GEN
|
| Stock price: | C$0.28 at close Aug. 18
|
| Market capitalization: | C$14.56 million
|
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