Business
Hemostemix Announces Unit Private Placement
Calgary, Alberta--(Newsfile Corp. - June 1, 2023) - Hemostemix Inc. (TSXV: HEM) (OTCQB: HMTXF) (F...
About this update from Hemostemix Inc
[{"type":"text","content":"Hemostemix Announces Unit Private PlacementCalgary, Alberta--(Newsfile Corp. - June 1, 2023) - Hemostemix Inc. (TSXV: HEM) (OTCQB: HMTXF) (FSE: 2VF0) is pleased to announce a non-brokered private placement of up to 10 Million Units priced at $0.12 each, closing in tranches. Each Unit consists of one common share in the capital of the Company (\"Common Share\") and one half of one common share purchase warrant (\"Warrant\"), with each full Warrant entitling the holder to acquire one Common Share at a price of $0.25 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 $0.30 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.\"This enables the Company to complete a contract it has negotiated in the form a production facility co-tenancy agreement,\" stated Thomas Smeenk, CEO. \"This facility enables Hemostemix to maintain control of its formulation of ACP-01 and produce it at approximately 1/12th the cost per batch quoted by contract manufacturers,\" Smeenk, said. The Existing Shareholder Exemption and Investment Dealer Exemption The Offering is made available to existing shareholders of the Company who, as of the close of business on May 31, 2023 hold common shares of the Company (and who continue to hold such common shares as of the closing date), pursuant to the prospectus exemption set out in Alberta Securities Commission Rule 45-513 - Prospectus Exemption for Distribution to Existing Security Holders and in similar instruments in other jurisdictions in Canada. The existing shareholder exemption limits a shareholder to a maximum investment of $15,000 in a 12-month period unless the shareholder has obtained advice regarding the suitability of the investment and, if the shareholder is resident in a jurisdic...