Mr. Michel Passebon reports
EXMCEUTICALS INC. ANNOUNCES $4 MILLION PRIVATE PLACEMENT
Exmceuticals Inc. is offering, on a non-brokered private placement basis, up to 2,962,962 common shares at a price of $1.35 per share for gross proceeds of up to $4-million.
The company has received $1-million of subscriptions and will close on those subscriptions on March 15 as a first tranche closing. In connection with the first tranche, the company will pay finders' fees of $70,820 in cash and 52,460 warrants, with each warrant being exercisable at $1.35 for a period of 18 months.
Proceeds from the offering will be used for capital expenditures and general working capital. All securities issued in connection with the offering will be subject to a four-month hold period.
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