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VALEO PHARMA CLOSES $4.5 MILLION FINANCING
VALEO PHARMA CLOSES $4.5 MILLION FINANCING.
About this update from Valeo Pharma Inc.
[{"type":"text","content":"\n\n\n\nVALEO PHARMA CLOSES $4.5 MILLION FINANCING\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\nVALEO PHARMA CLOSES $4.5 MILLION FINANCING\nCanada NewsWire\nMONTREAL, Aug. 31, 2023\n\n\n\n$3.92 million raised from non-brokered private placement offering, and $0.58 million from insider loanInvestissement Québec and insiders each invest $2.0 millionProceeds from the financing to be used to strengthen working capital and support ongoing growthMONTREAL, Aug. 31, 2023 /CNW/ - Valeo Pharma Inc. (TSX: VPH) (OTCQB: VPHIF) (FSE:VP2) (\"Valeo\" or the \"Company\"), a Canadian pharmaceutical company, today announced the closing of a $4.5 million financing. The Company closed a non-brokered private placement offering (the \"Offering\") of 13,999,997 units (the \"Units\") of the Company at a price of $0.28 per Unit (the \"Issue Price\") for gross proceeds of $3.92 million, including the participation of Investissement Québec for $2.0 million and $1.421million from Insiders. In addition, the Company secured a loan agreement with a related party for a principal amount of $580,000 bearing annual interest at a rate of 12%.\n\"We greatly appreciate the support of Investissement Québec and our Insiders in leading this capital financing thereby continuing to demonstrate their confidence in our business plan and our growth performance\", said Steve Saviuk, CEO. \"This financing will strengthen our working capital position and enable us to support the market share gains of our core products in our key therapeutic areas\".\n\"We are pleased to support Valeo Pharma in their growth strategy,\" stated Guy LeBlanc, President and CEO of Investissement Québec. \"The life sciences industry is a key sector of our economy and we will keep supporting and assisting our entrepreneurs in achieving their goals, both in Québec and around the world.\"\nThe Company issued 13,999,997 Units at a price of $0.28 per Unit for total gross proceeds of $3,920,000. Each Unit consist of one (1) class A share of the Company (each, a \"Share\") and one-half (1/2) Share purchase warran...