Mr. James Howard-Tripp reports
STAGEZERO LIFE SCIENCES ANNOUNCES FIRST CLOSING OF CDN $3.7 MILLION PRIVATE PLACEMENT
Stagezero Life Sciences Ltd. has closed the $2,665,418 first tranche of its $3,708,000 private placement, as approved by shareholders at the company's annual and special meeting. Stagezero anticipates a final closing by July 19, 2019. The private placement is fully subscribed.
According to the first closing, a total of 42 investors participated for total gross proceeds of $2,665,418. The private placement is structured as units at 11.5 cents and each unit includes one common share and one half warrant, whereby each full warrant can be exercised for a period of 36 months at a price of 18.5 cents.
"The financing is important in its timing as the company enters a growth phase of commercialization and begins its final validation of Aristotle," says James R. Howard-Tripp, chief executive officer of Stagezero Life Sciences. "The funding will provide the company with the necessary finances to support new distribution agreements with telehealth partners and grow existing channels within large health care systems and employer groups."
About Stagezero Life Sciences Ltd.
Stagezero Life Sciences is dedicated to the early detection of cancer and multiple disease states through whole blood. Its next-generation test, Aristotle, is a multicancer panel for simultaneously screening for 10 cancers from a single sample of blood with high sensitivity and specificity for each cancer. Aristotle is built on the company's proven and proprietary Sentinel Principle technology platform, which was validated on 10,000 patients and used to develop the first liquid biopsy for colorectal cancer. Further validation of Aristotle is currently under way.
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