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Burcon NutraScience Corporation Announces Closing of C$11.5 Million Bought Deal
Vancouver, British Columbia--(Newsfile Corp. - February 19, 2020) - Burcon NutraScience Corpor...
About this update from Burcon Nutrascience Corporation
[{"type":"text","content":"Burcon NutraScience Corporation Announces Closing of C$11.5 Million Bought DealVancouver, British Columbia--(Newsfile Corp. - February 19, 2020) - Burcon NutraScience Corporation (TSX: BU) (the \"Company\" or \"Burcon\") is pleased to confirm the closing of its previously announced bought deal offering for gross proceeds of C$11,500,690 (the \"Offering\").Co-lead underwriters Canaccord Genuity Corp. and Beacon Securities Limited, together with Eight Capital and Paradigm Capital Inc. (collectively, the \"Underwriters\") purchased from Burcon, on a bought deal basis, 6,452,000 units of the Company (\"Units\") at a price of C$1.55 per Unit for gross proceeds of C$10,000,600. The Underwriters also exercised the over-allotment option in full and purchased an additional 967,800 Units at a price of C$1.55 for additional gross proceeds to the Company of C$1,500,090. Each Unit is comprised of one common share of the Company (a \"Common Share\") and one-half of one Common Share purchase warrant (each whole Common Share purchase warrant, a \"Warrant\"). Each Warrant will be exercisable to acquire one Common Share at an exercise price of $2.00 for a period of 24 months from the closing of the Offering. The net proceeds of the Offering will be used by the Company for research and development activities, the maintenance, strengthening and expansion of its patent portfolio and general corporate purposes.\"We are pleased to have completed this bought deal financing,\" said Johann F. Tergesen, Burcon's president and chief executive officer, adding, \"The funds will enable Burcon to further accelerate our key opportunities and the development of our nutritious and great-tasting plant-based proteins.\"The securities being offered have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States or to, or for the account or benefit of, U.S. persons absent registration or an applicable exemption from the registration requirements. This news release will not constitute an offer to sell or the solicitation of an offer to buy nor will there be any sale of the securities in any state in which such offer, solicitation or sale would be unlawful.About Burcon NutraScience CorporationBurcon is a global technology leader in the development of plant-based proteins. With o...