05:28:12 EDT Thu 28 Mar 2024
Enter Symbol
or Name
USA
CA



Stagezero Life Sciences Ltd
Symbol SZLS
Shares Issued 295,014,014
Close 2020-02-21 C$ 0.06
Market Cap C$ 17,700,841
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Stagezero closes $1.18-million debenture offering

2020-02-21 09:50 ET - News Release

Mr. James Howard-Tripp reports

STAGEZERO LIFE SCIENCES ANNOUNCES CLOSING OF CONVERTIBLE DEBENTURE FINANCING

Stagezero Life Sciences Ltd. has closed a private placement of convertible debentures for gross proceeds of $1.18-million on Feb. 19, 2020.

The debentures, issued in increments of $1,000, bear interest at a rate of 6 per cent per annum, have a term of 18 months from the date of issue and are convertible into units at a conversion price of four cents per unit. Each unit consists of one common share of the company and one-half of a common share purchase warrant. Each whole warrant is exercisable into one common share of the company at an exercise price of seven cents per common share for a period of 24 months from the date of issuance of the debentures. Securities issued pursuant to the offering are subject to a statutory hold period lasting four months and a day after the issuance of the securities.

The debentures will be secured against the assets of the company once the convertible security financing agreement between the company and Lind Asset Management XI LLC is duly terminated.

"This debenture, together with our private placement of $674,409 announced Jan. 27, will allow us to more aggressively advance our commercialization efforts as well as begin the final phase for the Aristotle program," commented James Howard-Tripp, chairman and chief executive officer of Stagezero. "It was pleasing to note that we were significantly oversubscribed."

About Stagezero Life Sciences Ltd.

Stagezero Life Sciences is dedicated to the early detection of cancer and multiple disease states through whole blood. Aristotle, its next-generation test, is a panel for simultaneously screening for 10 cancers from a single sample of blood with high sensitivity and specificity for each cancer.

We seek Safe Harbor.

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