Business
BioMark Announces the Final Closing of Oversubscribed Private Placement
Vancouver, British Columbia--(Newsfile Corp. - March 31, 2025) - BioMark Diagnostics Inc. (CSE: BUX) (FSE: 20B) (OTC Pink: BMKDF) ("BioMark"), a leading developer of liquid biopsy tests for early cancer detection, today announced the successful closing of its previously announced oversubscribed non-brokered private placement.The closing of the second and final tranche builds upon the momentum of the previously announced first tranche on March 26, 2025, culminating in a significantly successful f
About this update from Biomark Diagnostics, Inc.
[{"type":"text","content":"Vancouver, British Columbia--(Newsfile Corp. - March 31, 2025) - BioMark Diagnostics Inc. (CSE: BUX) (FSE: 20B) (OTC Pink: BMKDF) ("BioMark"), a leading developer of liquid biopsy tests for early cancer detection, today announced the successful closing of its previously announced oversubscribed non-brokered private placement.","length":337,"tagName":"p"},{"type":"text","content":"The closing of the second and final tranche builds upon the momentum of the previously announced first tranche on March 26, 2025, culminating in a significantly successful financing round. This second tranche consisted of 4,593,984 units, bringing the total number of Units issued in this financing round to 14,203,984. The Units were issued at a price of CAD $0.30 per Unit, for aggregate gross proceeds of CAD $4,261,195. The financing will be utilized to accelerate BioMark's commercialization and for other corporate development goals.","length":543,"tagName":"p"},{"type":"text","content":"Demonstrating strong investor confidence in BioMark's vision and technology, BioMark secured the additional subscriptions of up to 4,593,984 units (the "Units") at a price of CAD $0.30 per Unit, for aggregate gross proceeds of up to CAD $1,378,195. Each unit consists of one common share of BioMark and one full purchase warrant. One whole share purchase warrant will entitle the holder thereof to purchase one common share of BioMark at CAD $0.50 per share for a period of three years from the closing date of the private placement. The Warrants under the second tranche may be subject to an acceleration clause if the closing trading price of BioMark's shares is greater than CAD $1.00 per common share for a period of 10 consecutive trading days (the "Acceleration Event"). BioMark may, upon providing written notice to the holders of Warrants, accelerate the expiry date of the Warrants to the date that is 30 days following the date of such written notice. The securities issued under the private placement will be subject to a period of four months and one day under the Canadian securities laws and subject to resale restrictions under the U.S. securities laws. A debt conversion consisting of 1,000,000 units in settlement of indebtedness in the aggregate amount of CAD $300,000 to pay Due to the Related Party was also completed. No finders&...