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InMed Raises $5.75 Million Through Underwritten Financing Including Full Exercise of the Over-Allotment Option
InMed Raises $5.75 Million Through Underwritten Financing Including Full Exercise of the O...
About this update from Infield Minerals Corp
[{"type":"text","content":"\n\n\n\nInMed Raises $5.75 Million Through Underwritten Financing Including Full Exercise of the Over-Allotment Option\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 31, 2017\n\n\n\n\n\n\n/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/\n\nCSE: INOTCQB: IMLFF\n\n\n\nVANCOUVER, May 31, 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 the closing today of its previously announced public offering (the \"Offering\"). Pursuant to the Offering, the Company issued 12,788,000 units (the \"Units\") at a price of $0.45 per Unit, for aggregate gross proceeds to InMed of $5,754,600. The Offering was completed 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\"). The 12,788,000 Units issued include 1,668,000 Units issued and sold pursuant to the over-allotment option granted by the Company to the Underwriters, which was exercised in full.\n\nEach Unit is comprised 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 has an exercise price of $0.65 per common share and is exercisable for a period of 24 months following the closing date for the Offering. The Warrants are only exercisable on a net cashless basis based 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, InMed issued to the Underwriters a total of 535,620 non-transferable broker warrants (the \"Broker Warrants\") in connection with the closing of the Offering. Each Broker Warrant entitles the...