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Crescita Therapeutics(TM) Announces Completion of $1.0 million Convertible Debenture Financing with Bloom Burton Funds
Crescita Therapeutics™ Announces Completion of $1.0 million Convertible Debenture F...
About this update from Crescita Therapeutics, Inc.
[{"type":"text","content":"\n\n\n\nCrescita Therapeutics™ Announces Completion of $1.0 million Convertible Debenture Financing with Bloom Burton Funds\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\n\nCanada NewsWire\nMISSISSAUGA, ON, Aug. 29, 2017\n\n\n\nMISSISSAUGA, ON, Aug. 29, 2017 /CNW/ - Crescita Therapeutics Inc. (TSX:CTX) (Crescita or the Company), a commercial dermatology company with a portfolio of non-prescription skincare products and prescription drug products, today announced it has completed the previously announced $1.0 million convertible debenture financing with the Bloom Burton Healthcare Lending Trust and the Bloom Burton Healthcare Lending Trust II (the Bloom Burton Funds).  \n\n\n \n \n\n \nThe debentures are convertible into common shares at the option of the holder at a conversion price of $1.00 per share (subject to customary adjustments). Additional details regarding the terms of the debentures are contained in the Company's news release dated August 14, 2017, a copy of which is available under the Company's profile at www.sedar.com.\n\nThe proceeds of the convertible debenture financing are expected to be used to repay indebtedness and for general corporate purposes. \n\nCopies of the convertible debentures, which include all of the terms and conditions of the convertible debentures, will be filed under the Company's profile at www.sedar.com. The summary of the convertible debentures above is qualified by reference to the specific terms of the convertible debentures.\n\nAs previously announced, the Company also issued to the Bloom Burton Funds, an aggregate of 100,000 common share purchase warrants which are exercisable at a price of $0.75 per share.  \n\n\"Completion of this financing further strengthens our financial position as we continue to execute our growth strategy,\" said Serge Verreault, Crescita's President.  \"We are very appreciative of the strong continued support of Bloom Burton and we are excited about the future prospects of Crescita.\"\n\nAbout Crescita Therapeutics Inc.Crescita (TSX:CTX) is a publicly traded, Canadi...