“Company”), a biopharmaceutical company developing exosome-based regenerative therapies, is pleased to announce that it has closed a non-brokered private placement of 1,938,326 units (“Units”) at a price of C$0.55 per Unit for aggregate gross proceeds of approximately C$1,066,078.02 (the “Offering”), subject to final acceptance of the TSX Venture Exchange (“TSXV”). The Company intends to use the proceeds of the Offering for general working capital purposes. No insiders participated in this Offering and no finder’s fees were paid in connection with this Offering.
Each Unit consists of (i) one common share in the capital of the Company (each, a “Common Share”), and (ii) one Common Share purchase warrant (each, a “Warrant”). Each Warrant entitles the holder thereof to purchase one Common Share at a price of C$0.69 per Common Share for a period of 36 months from the closing date, subject to acceleration. If the daily volume weighted average trading price of the Common Shares on the TSXV for any period of 20 consecutive trading days equals or exceeds C$1.38, the Company may, upon providing written notice to the holders of the Warrants (the “Acceleration Notice”), accelerate the expiry date of the Warrants to the date that is 30 days following the date of the Acceleration Notice. If the Warrants are not exercised by the accelerated expiry date, the Warrants will expire and be of no further force or effect.
The Offering remains subject to final acceptance of the TSXV. All securities issued under the Offering are subject to a statutory hold period of four months and one day from the closing date, expiring December 21, 2026.