Mr. Christopher Hopton reports
SIRONA BIOCHEM ANNOUNCES FINANCING
Sirona Biochem Corp. has arranged a non-brokered private placement for gross proceeds of $1-million. The private placement consists of 10 million units, at a price of 10 cents per unit. Each unit consists of one common share and one transferable share purchase warrant, each whole warrant exercisable into one additional common share of the company for a period of three years from the date of issue at a price of 16 cents per share.
The company is proposing to pay a finder's fee to an agent or agents that assist in procuring the proceeds of the offering. Such fee shall consist of a cash fee equal to no more than 8 per cent of the total proceeds of the private placement placed by such finder and warrants up to 8 per cent of the number of units the finder sells in the private placement. Each finder's warrant will be exercisable into one additional share of the company at a price of 16 cents per share for a period of three years from the closing date of the private placement.
Proceeds of the placement will be used for general working capital.
About Sirona Biochem Corp.
Sirona Biochem is a cosmetic ingredient and drug discovery company with a proprietary platform technology. Sirona specializes in stabilizing carbohydrate molecules with the goal of improving efficacy and safety. New compounds are patented for maximum revenue potential.
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