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Cynapsus Therapeutics Inc Announces Completion Of Short Form Prospectus Offering

Thursday, 9 May 2013 04:30pm EDT 

Cynapsus Therapeutics Inc announced that it has completed its previously announced offering (the Offering) under the Company's short form prospectus dated February 21, 2013, as amended by an amendment dated March 8, 2013. On March 1, 2013, the Company completed a first closing of the Offering for gross proceeds of $6,008,000. On March 21, 2013, the Company completed a second closing of the Offering for gross proceeds of $1,309,160. Total gross proceeds from the first and second closings of the Offering are equal to $7,317,160. Concurrent with the first closing of the Offering, the Company and the holders of Series A to E debentures agreed to convert $4,031,406 in debt for common shares and warrants. In addition, the Company completed a share consolidation of the Company's issued and outstanding common shares on the basis of one new common share for every 10 common shares issued and outstanding. 

Company Quote

0.01 +1.69%
10:54am EDT