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Microbix Biosystems Completes Non-Brokered Private Placement Financing For Gross Proceeds of $1.05 Million
Microbix Biosystems Completes Non-Brokered Private Placement Financing For Gross Proceeds of $1.05 Million.
About this update from Microbix Biosystems Inc.
[{"type":"text","content":"\n\n\n\nTORONTO, April 20 /CNW/ - Microbix Biosystems Inc. (TSX: MBX) announces\nthe successful completion today of a non-brokered private placement offering\nof units. A total of 1.5 million Units at $0.70 each have been sold for gross\nproceeds of $1.05 million. Each Unit consists of one common share of MBX and\none-half of a common share purchase warrant. Each whole warrant entitles the\nholder to subscribe for one common share at $0.90 for a period of 18 months.\nAll securities are subject to a four-month hold period from the date of\nclosing of the financing.\n\n\nThe investor is a large Canadian financial institution.\n\n\nWilliam J. Gastle, CEO of Microbix stated that "this financing will\nenable us to proceed with the previously announced financing arrangements for\nthe Urokinase product to be used in dissolving blood clots and cancer\ntherapies."\n\n\nThe TSX has neither approved nor disapproved of the content of this\n\n\nrelease.\n\n\nMicrobix specializes in developing proprietary biological technologies\nand commercializing them through global partners. The Company has intellectual\nproperty in large market biotherapeutic drugs, vaccine technologies and animal\nreproduction technologies. Established in 1988, Microbix is headquartered in\nToronto.\n\n\nThis press release contains forward-looking statements, which are subject\nto risks and uncertainties that could cause actual results to differ\nmaterially from those set forth in the forward-looking statements including\nthe risks associated with failure to develop and commercialize Urokinase on a\ntimely basis, non-adoption, resistance to business model for commercialization\nand implementation; risk associated with operation and maintenance of\nfacilities; risks associated with commercializing technology; and risks\nassociated with margins due to appreciation of the Canadian dollar, among\nothers. These forward-looking statements represent the Company's judgment as\nof the date of this press release. The Company disclaims any intent or\nobligation to update these forward-looking statements.\n\n\n%SEDAR: 00004220E\n\n\n","length":2174,"tagName":"div"}]