Business
Microbix Completes $752,275.65 Private Placement
/NOT INTENDED FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED ...
About this update from Microbix Biosystems Inc.
[{"type":"text","content":"\n\n\n\n/NOT INTENDED FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR\nDISSEMINATION IN THE UNITED STATES/\n\n\nTORONTO, Sept. 10 /CNW/ - Microbix Biosystems Inc. (TSX:MBX) is pleased\nto announce today the closing of its previously announced private placement,\nresulting in the issue of 2,149,359 Units at a price of $0.35 per unit. The\ninvestors comprised a syndicated group of biotech investors.\n\n\nThe financing was non-brokered. A total of 2,149,359 Units, each Unit\ncomprised of one common share in the capital of Microbix Biosystems Inc. and a\ncommon share purchase warrant, have been issued. Each whole warrant will\nentitle the holder to purchase one additional common share at an exercise\nprice of $0.55 with an eighteen month expiration date. In connection with the\nprivate placement, Microbix issued 300,000 warrants as a finders fee, each\nfinders warrant entitles the holder to purchase one common share at a price of\n$0.35 for a period of 18 months.\n\n\nThe Company intends to use the proceeds of the private placement for\ngeneral corporate purposes.\n\n\nThe Unit shares and warrants and the finders warrants are subject to hold\nperiod of four months and one day. The private placement remains subject to\nthe final approval of the Toronto Stock Exchange.\n\n\nThe securities described herein have not been and will not be registered\nunder the United States Securities Act of 1933, as amended, and may not be\noffered or sold in the United States or to a U.S. Person absent an exemption\nfrom the registration requirements of such Act.\n\n\nMicrobix specializes in the development of biological technologies and\ncommercializing 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\nMississauga.\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 get authorization to release Kinlytic for\ndistribution in the US from the FDA, inability to complete financing for the\nHunan China project currently the subject of financing; risks associated with\ncommercial...