Business
Hemostemix Unit Offering Repriced
Calgary, Alberta--(Newsfile Corp. - March 8, 2023) - Hemostemix Inc. (TSXV: HEM) (OTCQB: HMTXF) (...
About this update from Hemostemix Inc
[{"type":"text","content":"Hemostemix Unit Offering RepricedCalgary, Alberta--(Newsfile Corp. - March 8, 2023) - Hemostemix Inc. (TSXV: HEM) (OTCQB: HMTXF) (FSE: 2VF0) announces it is repricing its offering of 14 Million Common Share Units to $0.20 each. 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.The Existing Shareholder Exemption and Investment Dealer ExemptionThe Offering is made available to existing shareholders of the Company who, as of the close of business on January 2, 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 jurisdiction of Canada, that advice has been obtained from a person that is registered as an investment dealer in the jurisdiction. If the Company receives subscriptions from investors relying on the existing shareholder exemption exceeding the maximum amount of the financing, the Company intends to adjust the subscriptions received on a pro rata basis.The Company has also made the Offering available to ...