Business
Biomira announces U.S. $13 million financing
Biomira announces U.S. $13 million financing.
About this update from Skrr Exploration, Inc.
[{"type":"text","content":"\n\n\n\nEDMONTON, Dec. 13 /CNW/ - Biomira Inc. (Nasdaq: BIOM) (TSX: BRA) today\nannounced that it has arranged a financing of approximately U.S. $13 million,\nbefore deducting placement agent fees and expenses, with Rodman & Renshaw, LLC\nof New York acting as exclusive placement agent. In connection with this\nfinancing, Biomira intends to file shortly in Canada a prospectus supplement\nto its September 26, 2006 Base Shelf Prospectus and in the United States a\nprospectus supplement to its September 26, 2006 F-10 Registration Statement.\nThe financing is expected to close within the next few days and is subject to\nregulatory approval.\n\n\nThe Company will be offering up to 9,629,650 units, each unit consisting\nof one common share and 0.20 of a warrant, at an issue price of U.S. $1.35. In\naddition, approximately 96,000 compensation warrants, having similar terms to\nthe purchaser warrants, will be issued to the placement agent.\n\n\nEach warrant will entitle the holder thereof to purchase one common share\nat an exercise price of U.S. $1.86. The warrants will have a 48-month term,\nfrom the date the financing closes, and a no-exercise period of six months.\n\n\nBiomira\n\n\nBiomira is a biotechnology company specializing in the development of\ninnovative therapeutic products for the treatment of cancer. Biomira's goal is\nto develop and commercialize novel synthetic vaccines and targeted small\nmolecules that have the potential to improve the lives and outcomes of cancer\npatients.\n\n\nThis release contains forward-looking statements. Various factors could\ncause actual results to differ materially from those projected in\nforward-looking statements, including those predicting or discussing the\ntiming of the closing of the financing, the filing of regulatory documents and\nreceipt of regulatory approvals related to the financing and the satisfaction\nof other conditions to closing of the transaction. Although the Company\nbelieves that the forward-looking statements contained herein are reasonable,\nit can give no assurance that the Company's expectations are correct. All\nforward-looking statements are expressly qualified in their entirety by this\ncautionary statement.\n\n\n","length":2262,"tagName":"div"}]