An anonymous director reports
SIRONA BIOCHEM ANNOUNCES SUCCESSFUL CLOSE OF OVERSUBSCRIBED PRIVATE PLACEMENT
Sirona Biochem Corp. has closed its oversubscribed private placement for gross proceeds of $1.5-million. The private placement consists of 3.75 million units at a price of 40 cents per unit. Each unit consists of one common share and one transferable share purchase warrant, with 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 60 cents per share, subject to an acceleration clause.
All securities issued under the private placement are subject to a statutory hold period expiring on Nov. 10, 2019.
The proceeds will be used to establish Asia-based manufacturing for TFC-1067 as well as to accelerate Sirona's anti-aging and anti-wrinkle projects.
No insiders participated in the private placement.
No finders' fees were paid from the private placement.
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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