Business
CURE Pharmaceutical Closes $10 Million Financing
- Funds will support the branding & product launch of Cure’s consumer products by newly acquired Sera Labs and the advancement of CURE’s clinical
About this update from Currenc Group Inc.
[{"type":"text","content":"\n- Funds will support the branding & product launch of Cure’s consumer products by newly acquired Sera Labs and the advancement of CURE’s clinical pharmaceutical pipeline -\n\n OXNARD, Calif.--(BUSINESS WIRE)--\nCURE Pharmaceutical Holdings (OTC: CURR), a developer and manufacturer of innovative delivery formulations for drugs, supplements and wellness products, today announced that it has received the first tranche of $4 million of a committed financing of $10 million, after original issue discounts, through the issuance of convertible notes (the “Notes”). Axiom Capital Management, Inc. acted as the sole placement agent in the transaction.\n\nCURE may repay the obligations of the Notes in cash only, or the Notes may be converted upon election of the investor at a fixed price of $1.32 per share subject to certain adjustments.\n\n“This financing will enable us to achieve a number of key company goals and sets the stage for making 2021 a breakout year for CURE,” stated Rob Davidson, CEO of CURE. “We have already set in motion the steps needed to drive progress in two key areas: driving strong sales growth of newly acquired Sera Labs, and advancing our clinical pharmaceutical pipeline, particularly CURE’s lead clinical development program for CUREfilm Blue™ (our trademarked name for sildenafil, or generic Viagra, to treat erectile dysfunction on our novel oral thin film technology).”\n\nThe securities sold in the financing transaction have not been registered under the Securities Act of 1933, as amended (the “Securities Act”), or any state or other applicable jurisdiction’s securities laws, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the Securities Act and applicable state or other jurisdictions’ securities laws. CURE has agreed to file a registration statement with the United States Securities and Exchange Commission registering the resale of the shares of common stock issuable upon conversion of the Notes.\n\nThis press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any offer, solicitation or sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.\n\nFor additional information on this financing transaction, see the...