Business
ZYUS Life Sciences Announces Closing of Unit Offering
NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES...
About this update from Zyus Life Sciences Corporation
[{"type":"text","content":"ZYUS Life Sciences Announces Closing of Unit Offering\n\n\n .bwalignc { text-align: center; list-style-position: inside }\n \n\n\n\n\n\n NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES\n \n\n\n\n\n\n ZYUS Life Sciences Corporation (the “\n \n Company\n \n ”) (TSXV: ZYUS), a Canadian-based life sciences company focused on the development and commercialization of novel cannabinoid-based pharmaceutical drug candidates for pain management, is pleased to announce that, further to its press release dated June 16, 2025, it has closed the second and final tranche (the “\n \n Second Tranche\n \n ”) of its non-brokered private placement (the “\n \n Offering\n \n ”) of units of the Company (each a “\n \n Unit\n \n ”) through the issuance of a further 746,267 Units for aggregate gross proceeds of $0.5 million. The aggregate gross proceeds raised in the Second Tranche and First Tranche of the Offering (which closed on June 16, 2025) (the “\n \n First Tranche\n \n ”) is approximately $0.75 million and the Company issued a total of 1,116,267 Units each priced at $0.67 per Unit in the Offering.\n \n\n Each Unit consists of one common share of the Company (a “\n \n Common Share\n \n ”) and one-half of one Common Share purchase warrant (each whole Common Share purchase warrant, a “\n \n Warrant\n \n ”), whereby each Warrant entitles the holder to acquire one Common Share at a price of $0.95 for a period of twenty-four months from the date of issuance, unless the term of the Warrant is accelerated pursuant to its terms (the “\n \n Acceleration Provision\n \n ”). In accordance with the Acceleration Provision, if the volume-weighted average trading price of the Common Shares is greater than $3.00 for a period of five consecutive trading days on the TSX Venture Exchange (the “\n \n TSXV\n \n ”), the Company will have the right to accelerate the expiry date of the Warrants.\n \n\n Proceeds of the Offering will be used for general corporate and working capital purposes. No finder’s fees were paid in connection with the Offering.\n \n\n The Units were offered by way of private placement pursuant to exemptions from prospectus requirements under applicable securities laws. Al...