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Braxia Scientific Announces Offering up to $1.5 Million, Braxia Management to Participate in Concurrent Private Placement
Toronto, Ontario--(Newsfile Corp. - February 7, 2023) - Braxia Scientific Corp. (CSE: BRAX) (OTC:...
About this update from Braxia Scientific Corp
[{"type":"text","content":"Braxia Scientific Announces Offering up to $1.5 Million, Braxia Management to Participate in Concurrent Private PlacementToronto, Ontario--(Newsfile Corp. - February 7, 2023) - Braxia Scientific Corp. (CSE: BRAX) (OTC: BRAXF) (FSE: 4960) (\"Braxia\", or the \"Company\"), a medical research company providing psychiatric, innovative ketamine and psilocybin treatments for mental health disorders, is pleased to announce an offering of up to 27,272,727 units of the Company (the \"Units\") at a price of $0.055 per Unit for aggregate gross proceeds of up to $1,500,000.00 pursuant to the listed issuer financing exemption (the \"LIFE Offering\") and a concurrent private placement of up to 7,272,727 Units (the \"Placement Units\") for aggregate gross proceeds of up to $400,000 (the \"Concurrent Placement\").Each Unit will be comprised of one common share in the capital of the Company (a \"Common Share\") and one Common Share purchase warrant (a \"Warrant\"). Each Warrant entitles the holder thereof to purchase one additional Common Share at a price of $0.07 per Common Share for a period of three years following the issuance of each Warrant. The Units in the LIFE Offering will be offered for sale to purchasers resident in each of the Provinces of Canada, except Quebec. The Placement Units will be offered for sale on a private placement to purchasers resident in each of the Provinces of Canada, except Quebec, and may also be offered by way of private placement in the United States and such other jurisdictions as may be determined by the Company.There is an offering document related to the LIFE Offering that can be accessed under the Company's profile at www.sedar.com and at www.braxiascientific.com in the Investor Relations tab. Prospective investors should read this offering document before making an investment decision.The securities issued in the LIFE Offering will not be subject to a hold period pursuant to applicable Canadian securities laws. The Placement Units sold in Canada will be subject to a four-month hold period.The Company is pleased to announce Dr. Roger McIntyre, Chairman and CEO of Braxia participation in the Concurrent Placement and has subscribed, for 3,181,818 Placement Units for aggregate gross proceeds of $175,000.00. Dr. McIntyre is an \"insider\" of the Company and his participation in the Concurrent Placement consti...