Business
Lattice Biologics Closes Third Tranche of Private Placement Announced on January 19, 2017
Lattice Biologics Closes Third Tranche of Private Placement Announced on January 19, 2017.
About this update from Lattice Biologics Ltd
[{"type":"text","content":"\nLattice Biologics Closes Third Tranche of Private Placement Announced on January 19, 2017\n\nLattice Biologics Closes Third Tranche of Private Placement Announced on January 19, 2017\n\nSCOTTSDALE, AZ--(Marketwired - February 16, 2017) - NOT FOR DISSEMINATION IN THE US OR THROUGH US NEWSWIRE SERVICESLattice Biologics Ltd. (TSX VENTURE: LBL) (OTCQB: LBLTF) (\"Lattice Biologics\" or the \"Company\") is pleased to announce that it has closed the third tranche of its non-brokered private placement of Units of the Company (\"Units\") announced on January 19, 2017 (the \"Offering\").The Company has issued 658,260 Units at a price of Can$0.20 per Unit, representing gross proceeds of US$100,000.Each Unit consists of one common share in the capital stock of the Company (a \"Common Share\") and one-half of one non-transferable common share purchase warrant (a \"Warrant\"). Each whole Warrant is exercisable into an additional Common Share at a price of Can$0.265 per Common Share for a period of 36 months from the date of closing the Offering.The Common Shares, and any Common Shares issuable upon exercise of the Warrants will be subject to a hold period expiring on June 17, 2017.Lattice Biologics has received conditional approval for the Offering from the TSX Venture Exchange.This latest tranche brings the total investor funding raised as part of this Offering (including amounts announced on January 24, 2017 and January 26, 2017) to US$295,000.The net proceeds from the Offering will be used for general working capital, including the Company's ongoing R&D efforts for the precision cancer screening tool being developed in conjunction with Sunnybrook Research Institute. Additionally, the proceeds will be used to support increasing production of Lattice Biologics' products, including the recently launched minimally processed amniotic fluid supplement for the treatment of joint pain associated with osteoarthritis. Lattice Biologics Ltd.Guy Cook,Chief Executive OfficerTelephone No: (480) 563-0800About Lattice Biologics Ltd.:Lattice Biologics Ltd. is an emerging precision medicine leader in the field of cellular therapies and tissue engineering, with an emphasis on bone, skin, and cartilage regeneration. As a manufacturer of the highest quality allografts, Lattice is focused on next generation products to improve surgical outcomes. Versatile...