Hemostemix Announces $2,675,981 Private Placement Including Second Tranche of $833,258

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[{"type":"text","content":"Hemostemix Announces $2,675,981 Private Placement Including Second Tranche of $833,258Calgary, Alberta--(Newsfile Corp. - November 28, 2024) - Hemostemix Inc. (TSXV: HEM) (OTC Pink: HMTXF) (FSE: 2VF0) (\"Hemostemix\" or the \"Company\") is pleased to announce it has closed its second and final tranche of the private placement of units (\"Units\"), as announced on October 11, 2024, for gross proceeds of $833,258 (the \"Offering\"). The Offering consisted of the issuance of an aggregate of 16,665,160 Units at a price of $0.05 per Unit. Each Unit consists of one common share in the capital of the Company (\"Common Share\") and one common share purchase warrant (\"Warrant\"), with each full Warrant entitling the holder to acquire one Common Share at a price of $0.12 per Common Share for a period of 24 months from the closing of the Offering, subject to the accelerated expiry provision described below.If, during any 10 consecutive trading days occurring after four months and one day has elapsed following the closing date of the Offering, the weighted average closing sales price of the Common Shares (or the closing bid, if no sales were reported on a trading day) as quoted on the TSX Venture Exchange (\"Exchange\") is greater than or equal to $0.15 per Common Share, the Company may provide notice in writing to the holders of the Warrants by issuance of a press release that the expiry date of the Warrants will be accelerated to the 30th day after the date on which the Company issues such press release.In connection with the Offering, the Company paid eligible finders aggregate cash finder fees of approximately $24,820.64 and issued 496,413 finder's options to purchase Common Shares of the Company at an exercise price of $0.05 per Common Share within 24 months from the closing date of the Offering.The combined Offerings resulted in gross proceeds of $2,675,981.77 and 53,519,635 Units. Proceeds from the Offering are to be used to advance the Company's stem cell therapeutics platform, initiate sales and process initial batches of ACP (angiogenic cell precursors), pay finder fees, current filing and regulatory fees in connection with the Offering, and for general working capital purposes.The Offering is subject to all necessary regulatory approvals including acceptance from the Exchange. All securities issued in connection with t...

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