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Hemostemix Announces a $2,500,000 Lead Order and its Clinical Trial and Litigation Updates
Calgary, Alberta--(Newsfile Corp. - April 9, 2021) - Hemostemix Inc. (TSXV: HEM) (OTC: HMTXF) ...
About this update from Hemostemix Inc
[{"type":"text","content":"Hemostemix Announces a $2,500,000 Lead Order and its Clinical Trial and Litigation UpdatesCalgary, Alberta--(Newsfile Corp. - April 9, 2021) - Hemostemix Inc. (TSXV: HEM) (OTC: HMTXF) ‎‎(FSE: 2VFO) (\"Hemostemix\" or the \"Company\") is pleased to announce that it has secured a $2,500,000 lead order from a director for Debenture Units, and intends to raise gross proceeds of up to $4,000,000 from the non-brokered Offerings of Units and Debenture Units, all as discussed below. The Company is progressing with completion of the phase II clinical trial data entry, source document ‎verification, and statistical analyses. ‎The United States District Court for the District of Delaware has ruled Hemostemix's claims against Aspire ‎and Accudata, except Count VII (fraud), are permitted to proceed (motions to stay and motions to dismiss denied) and the Company's preliminary injunction application was also denied. Accudata and Aspire must now answer the amended complaint by Monday, April 12, 2021. CLINICAL TRIAL UPDATE The last subject of the trial who was originally scheduled ‎to complete the remaining follow-up visit in March is now, due to COVID-19 impacts, scheduled to complete the follow-‎up visit in mid-April. The 17 clinical trial sites have completed the data entry of 84% of the clinical trial subjects. The ‎source document verification process is 20% complete and the Company is in the process of contracting several additional ‎clinical resource associates to complete the source document verifications. ‎$1,000,000 NON-BROKERED PRIVATE PLACEMENTHemostemix is pleased to announce a non-brokered private placement of units (\"Units\") for gross proceeds of up to $1,000,000 (the \"Unit Offering\"), subject to TSX Venture Exchange (the \"Exchange\") approval. The Unit Offering consists of the issuance of an aggregate of up to 2,000,000 Units at a price of $0.50 per Unit. Each Unit consists of one common share in the capital of the Company (\"Common Share\") and one transferrable Common Share purchase warrant (\"Warrant\"), with each full Warrant entitling the holder to acquire one Common Share at a price of $0.55 per Common Share for a period of 24 months from the closing of the Unit Offering, subject to the accelerated expiry provision described as follows. If on any 10 ...