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Marvel Biosciences Announces Non-Brokered Private Placement
Calgary, Alberta--(Newsfile Corp. - June 21, 2022) - Marvel Biosciences Corp. (TSXV: MRVL) a...
About this update from Marvel Biosciences Corp
[{"type":"text","content":"Marvel Biosciences Announces Non-Brokered Private PlacementCalgary, Alberta--(Newsfile Corp. - June 21, 2022) - Marvel Biosciences Corp. (TSXV: MRVL) and its wholly owned subsidiary, Marvel Biotechnology Inc. (collectively the \"Company\" or \"Marvel\"), is pleased to announce a proposed non-brokered private placement of units (the \"Units\") at a price of $0.10 per Unit for gross proceeds of up to $700,000 (the \"Offering\"). Each Unit will be comprised of one common share in the capital of the Company (a \"Common Share\") and one Common Share purchase warrant (\"Warrant\"). Each Warrant entitles the holder to purchase one Common Share at an exercise price of $0.15 on or before the date that is the earlier of: (i) one year from the date of closing (the \"Expiry Date\"); or (ii) in the event that the volume weighted average trading price of the common shares of the Company on the TSX Venture Exchange is at least $0.20 for a minimum of 10 consecutive trading days (whether or not trading occurs on all such days), (the \"Triggering Event\"), the Company may, at its sole discretion, issue a news release announcing that the exercise period has been reduced to thirty (30) days following the date of the issuance of such news release (the \"Accelerated Expiry Date\"). If such news release is issued, all Warrants that are not exercised prior to 5:00 p.m. Calgary time on the Accelerated Expiry Date will expire immediately after such time on the Accelerated Expiry Date.In connection with the Offering, the Company may pay a cash finders' fee equal up to 8% of the gross proceeds to the Company made by investors in the Offering introduced to the Company by the finder.The proceeds of the Offering will be used to fund drug formulation, toxicology studies and for general working capital purposes. The Offering is subject to acceptance by the TSX Venture Exchange. Contact InformationInvestor Relations:Virtus Advisory Group Tel: 416-644-5081Email: [email protected] Biosciences Corp. Roderick (Rod) Matheson, Chief Executive Officer or Dr. Mark Williams, President and Chief Science OfficerTel: 403 770 2469 Email: [email protected] the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this press release.All i...