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Bioniche Life Sciences Inc Closes Canadian Equity Offering And Related Private Placement

Thursday, 26 Sep 2013 06:35pm EDT 

Bioniche Life Sciences Inc announced that it has closed a Canadian equity offering of 33,808,620 Units priced at $0.29 per Unit for total proceeds of $9,804,500. Each Unit includes one Common Share and one-half of a Warrant exercisable at $0.40 for two years. The Units were issued pursuant to an agency agreement between the Company and Euro Pacific Canada Inc and the Agent appointed Bloom Burton & Co. as a special selling group member for the purpose of arranging the purchase of Units under the Offering. The Company has agreed to pay the Agent a fee equal to 7% of the gross proceeds ($0.0203 per Unit) plus broker warrants to purchase, in the aggregate, that number of Common Shares which is equal to 7% of the number of Units issued pursuant to the financing at the offering price for two years. After deducting the Agent’s cash fee and other expenses, the net proceeds to the Company are approximately $9 million. 

Company Quote

0.01 +4.88%
21 Nov 2014