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Ansell Announces C$5 Million Private Placement of Units and Flow-Through Units
Apr. 6, 2011 (TheNewswire.ca) -- April 6, 2011 Vancouver, British Columbia - Ansell Capital ...
About this update from Briacell Therapeutics Corp
[{"type":"text","content":"\nAnsell Announces C$5 Million Private Placement of Units and Flow-Through Units\n\n Apr. 6, 2011 (TheNewswire.ca) -- April 6, 2011 Vancouver, British Columbia - Ansell Capital Corp. (OOTC:ANCCF) (TSXV:ACP)(\"Ansell\" or the \"Company\") is pleased to announce that it has entered into an agreement with a syndicate of agents led by Canaccord Genuity Corp. and including PowerOne Capital Markets (the \"Agents\"), pursuant to which the Agents have agreed to sell on a private placement best efforts basis, up to 10,400,000 units (the \"Units\") of the Company at a price of C$0.32 per Unit and up to 1,875,000 flow through units issuable on a \"flow-through\" basis pursuant to the Income Tax Act (Canada)(the \"Flow-Through Units\") at a price of C$0.40 per Flow-Through Unit for aggregate gross proceeds of C$4,078,000 (the \"Offering\"). Each Unit shall consist of one common share in the Company and one half common share purchase warrant of the Company (each whole warrant, a \"Warrant\") exercisable for a period of 24 months from the closing date. Each Warrant shall be exercisable into one common share of the Company at an exercise price of C$0.40 in the first year, and thereafter, at a price of $0.50 in the second year. Each Flow-Through Unit shall consist of one common share in the Company and one half common share purchase warrant of the Company (each whole warrant, a \"Flow-Through Warrant\") exercisable for a period of 24 months from the closing date into one common share of the Company at an exercise price of C$0.50 per share.The Agent will receive a cash commission on the sale of the securities equal to 7% of the gross proceeds raised and broker warrants (\"Broker Warrants\") equal to 7% of the securities issued pursuant to the Offering. Each Broker Warrant shall be exercisable for one common share of the Company at a price of C$0.40 for the first year after closing and C$0.50 during the second year after closing.In addition, the Agent and Ansell have agreed that Ansell may through its own efforts concurrently with the Offering raise up to an additional $1,000,000 through the placement of an additional 3,125,000 Units on a non brokered basis. The Units being placed on a non brokered basis will have identical features to the non flow through Units being placed by the Agent.The Company intends to use the net proceeds of the Offering...