Mr. Jim Hutchens reports
IMAGIN MEDICAL RECEIVES APPROXIMATELY $1 MILLION FROM EXERCISE OF WARRANTS
Imagin Medical Inc. has received proceeds of $954,854 as a result of the exercise of 9,533,540 previously issued common share purchase warrants.
The exercised warrants were issued in connection with the company's public offering of units completed in two tranches in October, 2017, and were set to expire on Oct. 5, 2018, and Oct. 16, 2018, respectively. The exercise price of 9,508,540 of the warrants was 10 cents, and of 25,000 of the warrants, it was 16 cents.
No commissions or placement fees have been paid related to the funds received from these exercised warrants. Proceeds will be used for general corporate purposes.
Following the exercise of these warrants, Imagin continues to have an aggregate of 22,940,277 share purchase warrants outstanding, with expiry dates ranging from November, 2018, to April, 2020.
About Imagin Medical
Inc.
Imagin is developing powerful new imaging solutions for the detection and visualization of cancer. The company believes its technology will radically improve cancer care during minimally invasive procedures, improving the surgeon's ability to visualize, identify and remove cancerous cells. Imagin's initial target market is bladder cancer, the sixth most common cancer in the United States and the costliest cancer to treat due to a greater-than-50-per-cent recurrence rate. Developed at the Lawrence Livermore National Laboratory, Imagin's advanced, ultrasensitive imaging technology is based upon improved optical designs and advanced light sensors.
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