Company also settles merger with Natunola Health Biosciences
By Devika Patel
Knoxville, Tenn., Oct. 7 - Botaneco Corp., formerly known as Advitech Inc., said it completed a C$3.52 million private placement of units. The deal priced for C$3.5 million on June 30 and was amended on Sept. 16.
The company sold 117,333,333 units of one common share and a half-share warrant at C$0.03 per unit. The units were originally priced at C$0.04 apiece.
Each whole warrant is exercisable at C$0.04 for three years. The strike price is identical to the June 29 closing share price of C$0.04. Previously, the warrants were exercisable at C$0.05 per share.
Bloom Burton & Co. was the agent.
The company has also completed a merger with Natunola Health Biosciences Inc. to combine the businesses of both companies, creating a personal care and health food ingredients company. In the merger, Advitech acquired all of Natunola's outstanding shares through an amalgamation between Natunola and 7894716 Canada Inc., a subsidiary of Advitech.
The private placement was a condition of this merger.
Botaneco is a Montreal biotechnology company.
| Issuer: | Botaneco Corp.
|
| Issue: | Units of one common share and a half-share warrant
|
| Amount: | C$3.52 million
|
| Units: | 117,333,333
|
| Price: | C$0.03
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Three years
|
| Warrant strike price: | C$0.04
|
| Agent: | Bloom Burton & Co.
|
| Pricing date: | June 30
|
| Amended: | Sept. 16
|
| Settlement date: | Oct. 7
|
| Stock symbol: | TSX Venture: AVI
|
| Stock price: | C$0.04 at close June 29
|
| Market capitalization: | C$4.12 million
|
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