Business

Microbix Announces Closing of Second Tranche of Private Placement of $577,500

Apr. 19, 2011 (Canada NewsWire Group) -- /NOT INTENDED FOR DISSEMINATION IN THE UNITED STATES...

articleMicrobix Biosystems Inc.April 19, 20114/company/microbix-biosystems-inc/news/microbix-announces-closing-of-second-tranche-of-private-placement-of-dollar577500
Microbix Announces Closing of Second Tranche of Private Placement of $577,500

About this update from Microbix Biosystems Inc.

[{"type":"text","content":"\n\n\n Apr. 19, 2011 (Canada NewsWire Group) -- \n\n#ReleaseContent TABLE\n{\n BORDER-COLLAPSE: collapse\n}\nTR.cnwUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 1px solid\n}\nTR.cnwDoubleUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 3px double\n}\nTR.cnwBoldUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 3px solid\n}\nTD.cnwUnderlinedCell\n{\n BORDER-BOTTOM: #000000 1px solid\n}\nTD.cnwDoubleUnderlinedCell\n{\n BORDER-BOTTOM: #000000 3px double\n}\nTD.cnwBoldUnderlinedCell\n{\n BORDER-BOTTOM: #000000 3px solid\n}\n#ReleaseContent TABLE.cnwBorderedTable TD\n{\n BORDER-RIGHT: black 1px solid;\n PADDING-RIGHT: 2px;\n BORDER-TOP: black 1px solid;\n PADDING-LEFT: 2px;\n PADDING-BOTTOM: 2px;\n BORDER-LEFT: black 1px solid;\n PADDING-TOP: 2px;\n BORDER-BOTTOM: black 1px solid;\n BORDER-COLLAPSE: collapse\n}\n#ReleaseContent TABLE TD\n{\n PADDING-RIGHT: 2px;\n PADDING-LEFT: 2px;\n PADDING-BOTTOM: 2px;\n PADDING-TOP: 2px\n}\n\n\n/NOT INTENDED FOR DISSEMINATION IN THE UNITED STATES ORDISTRIBUTION TO\n UNITED STATES NEWSWIRE SERVICES/\n\n\nTORONTO, April 19 /CNW/ - Microbix Biosystems Inc. (TSX:MBX) ("Microbix"\n or the "Company"), a biotechnology company focused on virology and\n biological technologies, today announced the closing of the second\n tranche of a private placement resulting in the issuance of 1,650,000\n Units at a price of $0.35 per Unit. Each unit consists of one common\n share of Microbix and one-half common share purchase warrant. Each\n whole Warrant entitles the holder to purchase one additional common\n share at an exercise price of $0.45 for 24 months. A director of the\n Company participated in the financing by purchasing 650,000 Units.\n\n\nThe Company also paid commissions of $24,500 and issued 70,000 finder's\n warrants, each finder's warrant entitles the holder to purchase a Unit\n at a price of $0.42 per Unit for 24 months. The financing was\n non-brokered. The Company intends to use the proceeds of the private\n placement for general corporate purposes.\n\n\nThe securities issued in the private placement are subject to hold\n period of four months and one day from the date of issue. The private\n placement remains subject to the final approval of the Toronto Stock\n Exchange.\n\n\nThe securities described herein have not been and will not be registered\n under the United States Securities Act...

More updates from Microbix Biosystems Inc.