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InMed Announces Pricing of $5,004,000 Underwritten Financing
InMed Announces Pricing of $5,004,000 Underwritten Financing Canada NewsWire VAN...
About this update from Infield Minerals Corp
[{"type":"text","content":"\n\n\n\nInMed Announces Pricing of $5,004,000 Underwritten Financing\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n\n\n\n\n\n\n\nCanada NewsWire\nVANCOUVER, May 23, 2017\n\n\n\n/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/\n\n\n\nVANCOUVER, May 23, 2017 /CNW/ - InMed Pharmaceuticals, Inc. (\"InMed\" or the \"Company\") (CSE: IN; OTCQB: IMLFF), a biopharmaceutical company specializing in the research and development of novel, cannabinoid-based drug therapies, is pleased to announce that, in connection with its proposed public offering announced on April 21, 2017, it has entered into an underwriting agreement (the \"Underwriting Agreement\") with a syndicate of underwriters led by Canaccord Genuity Corp. and including Eight Capital along with Roth Capital Partners, LLC serving as placement agent for sales of Units in the United States (collectively, the \"Underwriters\"), pursuant to which the Underwriters have agreed to purchase, on an underwritten basis, 11,120,000 Units of the Company (the \"Units\") at a price of $0.45 per Unit (the \"Offering Price\"), for aggregate gross proceeds of $5,000,400 (the \"Offering\"). Each Unit will consist of one common share of the Company and one-half of one common share purchase warrant (each whole common share purchase warrant, a \"Warrant\"). Each Warrant will have an exercise price of $0.65 per common share and will be exercisable for a period of 24 months following the closing date. The Warrants will only be exercisable on a net cashless basis on the five-day volume-weighted average trading price of the common shares of the Company on the Canadian Securities Exchange ending on the date immediately preceding the date of exercise.\n\nIn addition, the Company has granted the Underwriters an option (the \"Over-Allotment Option\"), to purchase up to 1,668,000 additional Units at the Offering Price for a period of up to 30 days after the closing date of the Offering. In the event that the Over-Allotment Option is exercised in its entirety, the aggregate gross p...