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Eupraxia Pharmaceuticals Announces a Non-Brokered Private Placement of up to C$22 Million
Eupraxia Pharmaceuticals Announces a Non-Brokered Private Placement of up to C$22 Million ...
About this update from Eupraxia Pharmaceuticals, Inc.
[{"type":"text","content":"\n \n \n \n Eupraxia Pharmaceuticals Announces a Non-Brokered Private Placement of up to C$22 Million\n \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.prntac{\nTEXT-ALIGN: CENTER\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n /NOT FOR DISSEMINATION IN\n \n THE UNITED STATES\n \n OR THROUGH U.S. NEWSWIRE SERVICES/\n \n \n \n \n \n VICTORIA, BC\n \n \n ,\n \n \n Aug. 4, 2023\n \n \n /CNW/ - Eupraxia Pharmaceuticals Inc. (\"Eupraxia\" or the \"Company\") (TSX: EPRX), a Phase 2 clinical-stage biotechnology company with an innovative drug delivery technology platform, is pleased to announce that it intends to complete a non-brokered private placement of up to 3,142,857 common shares (the \"Common Shares\") of the Company, at a price of\n \n C$7\n \n .00 per Common Share for gross proceeds of up to\n \n C$22,000\n \n ,000 (the \"Private Placement\"). To date, the Company has received commitments from subscribers to participate in the Private Placement for an aggregate amount of approximately\n \n C$20,000,000\n \n .\n \n \n The Private Placement is expected to close on or about\n \n August 10, 2023\n \n and is subject to certain conditions including, but not limited to, the receipt of all necessary approvals, including the approval of the Toronto Stock Exchange. The Common Shares issued in connection with the Private Placement will be subject to a four-month statutory hold period, in accordance with applicable securities legislation.\n \n \n The Company intends to use the net proceeds from the Private Placement towards the Company's ongoing research and development activities, including the clinical development of EP-104IAR, other preclinical and clinical targets as well as for working capital and general capital purposes.\n \n \n This news release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in\n \n the United States\n \n or in any other jurisdiction in which such offer, solicitation or sale would be unlawful. The securities have not been registered under the United States...