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Hemostemix Closes $762,400 of The Unit Private Placement
Calgary, Alberta--(Newsfile Corp. - March 21, 2023) - Hemostemix Inc. (TSXV: HEM) (OTCQB: HMTXF) ...
About this update from Hemostemix Inc
[{"type":"text","content":"Hemostemix Closes $762,400 of The Unit Private PlacementCalgary, Alberta--(Newsfile Corp. - March 21, 2023) - Hemostemix Inc. (TSXV: HEM) (OTCQB: HMTXF) (FSE: 2VF0) (\"Hemostemix\" or the \"Company\") is pleased to announce that it has closed its first tranche of its previously announced non-brokered private placement of units (\"Units\") for gross proceeds of $762,400 (the \"Offering\"). The Offering consisted of the issuance of an aggregate of 3,812,000 Units at a price of $0.20 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 $0.65 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 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 $0.80 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 fees of $27,224 cash and issued 136,120 finder warrants to purchase Common Shares of the Company, at an exercise price of $0.20 per Common Share within 12 months from the closing of the Offering. Proceeds from the Offering are expected to pay for the costs of restarting production of ACP-01, filing fees and finder fees payable in connection with the closing, and general working capital requirements.The Offering is subject to all necessary regulatory approvals including acceptance from the Exchange. All securities issued in connection with the Offering will be subject to a four-month hold period from the closing date under applicable Canadian securities laws, in addition to such other restrictions as may apply under applicable securities laws of jurisdictions outside Canada.For further details regarding the Company's ...