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GeneNews Ltd Raises More Than $7.5 Million in Non-Brokered Private Placement


Friday, 14 Dec 2012 06:30pm EST 

GeneNews Ltd announced that it has accepted subscriptions for a non-brokered private placement offering of its common shares for gross proceeds of approximately $7.7 million. The size of the offering was increased from the $6.0 target previously announced on December 7, 2012, due to strong demand. The offering will result in the issuance of approximately 86.3 million common shares from treasury at a price of $0.09 per share. The securities issued pursuant to the private placement are subject to the Canadian resale rules which include a four-month restricted period before the common shares may become freely-tradeable within Canada. 

Company Quote

1.31
-0.03 -2.24%
12 Sep 2014