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Pivot Pharmaceuticals Inc
Symbol PVOT
Shares Issued 88,679,077
Close 2019-04-08 C$ 0.25
Recent Sedar Documents

Pivot Pharmaceuticals closes $590,000 private placement

2019-04-08 21:48 ET - News Release

Mr. Patrick Frankham reports

PIVOT COMPLETES C$590,000 NON-BROKERED PRIVATE PLACEMENT

Pivot Pharmaceuticals Inc. has closed a non-brokered private placement for a total of $590,000. Proceeds of the private placement will be used for general working capital purposes.

Private placement

The company issued 2.95 million units at a price of 20 cents per unit for gross proceeds of $590,000. Each unit consists of one common share and one common share purchase warrant. Each warrant is exercisable for one common share for a period of three years from the date of issuance at an exercise price of 30 cents. The common shares and warrants will be subject to resale restrictions for a period of four months and one day from the date of issuance.

In connection with the closing of the private placement, the company will pay cash commission of $16,000 and issue 188,000 agent shares and 108,000 agent warrants.

Share issuance

The company issued 1,726,037 common shares on March 23, 2019, for settlement of accounts payables to officers, directors and a consultant, and to a third party for services rendered. In addition, on April 8, 2019, the company issued 71,194 common shares as a fee for extending the date of final payment on the ready-to-infuse patents from Feb. 28, 2019, to May 31, 2019.

About Pivot Pharmaceuticals Inc.

Pivot Pharmaceuticals is a biopharmaceutical company engaged in the development and commercialization of therapeutic pharmaceuticals and nutraceuticals using innovative drug delivery platform technologies.

We seek Safe Harbor.

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