23:24:35 EST Fri 28 Jan 2022
Enter Symbol
or Name

CVR Medical Corp
Symbol CVM
Shares Issued 64,938,033
Close 2018-01-30 C$ 0.44
Recent Sedar Documents

CVR Medical arranges $2-million private placement

2018-01-30 18:52 ET - News Release

Mr. Peter Bakema reports


CVR Medical Corp. intends to complete a private placement financing for gross proceeds of up to $2-million, which is expected to consist of units, with each unit comprising one common share and one-half of one common share purchase warrant at a price of 40 cents per unit, or such other price per unit determined by CVR Medical management in compliance with TSX Venture Exchange pricing regulations. Each whole share purchase warrant will be exercisable to acquire one common share of CVR Medical at a price of 70 cents per share for a period of 12 months following the closing of the financing.

The financing is non-brokered. CVR Medical intends to pay finders' fees of up to 6 per cent in cash and 6 per cent in warrants in connection with the financing. Certain directors, officers and insiders of CVR Medical may participate in the financing. Proceeds from the financing are expected to be used for continuing working capital requirements relating to the joint venture described below, specifically in regard to Food and Drug Administration applications and clinical trials.

Completion of the financing is subject to exchange acceptance, and all securities issued pursuant to the financing will be subject to a hold period of four months as required under applicable securities legislation.

The securities referred to herein will not be or have not been registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements.

About CVR Medical Corp.

CVR Medical is a company that is involved in an equal parts joint venture with CVR Global Inc. The joint venture operates in the medical industry focused on the commercialization of a proprietary subsonic, infrasonic and low-frequency sound wave analysis technology, and has patents to a diagnostic device designed to detect and measure carotid arterial stenosis.

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