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Marvel Biosciences Announces Private Placement
Calgary, Alberta--(Newsfile Corp. - March 28, 2025) - Marvel Biosciences Corp. (TSXV: MRVL) and its wholly owned subsidiary, Marvel Biotechnology Inc. (collectively the "Company" or "Marvel"), is pleased to announce that, subject to approval of the TSX Venture Exchange (the "TSXV"), it has closed the first tranche of a non-brokered private placement of up to 12,000,000 units (the "Units") at a price of $0.125 per Unit for gross proceeds of up to $1,500,000 (the ...
About this update from Marvel Biosciences Corp
[{"type":"text","content":"Calgary, Alberta--(Newsfile Corp. - March 28, 2025) - Marvel Biosciences Corp. (TSXV: MRVL) and its wholly owned subsidiary, Marvel Biotechnology Inc. (collectively the "Company" or "Marvel"), is pleased to announce that, subject to approval of the TSX Venture Exchange (the "TSXV"), it has closed the first tranche of a non-brokered private placement of up to 12,000,000 units (the "Units") at a price of $0.125 per Unit for gross proceeds of up to $1,500,000 (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 $0.175 per share at any time prior to 5:00 p.m. (Calgary time) on the date that is two (2) years from the date of the issuance of the Units; provided that if the volume weighted average trading price of the Common Shares on the TSX Venture Exchange (the "TSXV") is at least $0.30 per share for a period of ten (10) consecutive trading days (whether or not trading occurs on all such days) (the "Triggering Event"), the expiry date of the Warrants may be accelerated by the Corporation to a date that is not less than 30 days after the date that notice of such acceleration is provided to the Warrant holders, which notice may be by way of general press 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.","length":1709,"tagName":"p"},{"type":"text","content":"In connection with the Offering, the Company may pay a finder's fee ("Finder's Fee") in connection with the issue and sale of any or all of the Units under the Offering. The Finder's Fee shall consist of a payment of up to 7% of the gross proceeds of the Offering in relation to subscribers introduced by any particular finder, payable in cash, plus finder's warrants ("Finder's Warrants") in an amount equal to up to 7% of the aggregate number of Units in relation to subscribers introduced by any particular finder, with each Finder's Warrant being exerc...