Mr. Jamie Lewin reports
VANC PHARMACEUTICALS ANNOUNCES
NON BROKERED PRIVATE PLACEMENT
Vanc Pharmaceuticals Inc. has arranged a non-brokered private placement of up to
7,333,333 units of the company at a price of 15 cents per unit for gross proceeds of up to $1.1-million.
Each unit will consist of one common share and
one-half transferrable share purchase warrant. Each warrant will entitle the holder thereof to purchase
one additional common share for a period of 12 months from
the closing date of the offering at a price of 25 cents per common
share.
Proceeds from the offering will be used by Vanc for general continuing
corporate and working capital purposes.
"With this round of financing, we will be building inventory, and adding a
sales and marketing team to introduce our generic drug portfolio, along
with our OTC products to the Canadian market," said Arun Nayyar, chief executive officer of
Vanc. "Our team is excited to be another step closer to our
commercialization goals."
In connection with the offering, the company may pay a finder's fee
pursuant to the policies of the TSX Venture Exchange.
This offering is subject to receipt of all necessary approvals, including
approval of the TSX Venture Exchange and the company's board of
directors.
We seek Safe Harbor.
© 2024 Canjex Publishing Ltd. All rights reserved.