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BriaCell Announces Proposed Investment by Leading Biotech Funds
Mar. 08, 2018 09:38AM PST
Biotech InvestingBriaCell Therapeutics (TSXV:BCT) an immuno-oncology focused biotechnology company with a proprietary targeted immunotherapy technology, announced today that it expects to enter into a securities purchase agreement of convertible notes with a leading group of Institutional and Family Office funds focused on investments in the biotech sector for an investment of US$800,000. As quoted in the …
BriaCell Therapeutics (TSXV:BCT) an immuno-oncology focused biotechnology company with a proprietary targeted immunotherapy technology, announced today that it expects to enter into a securities purchase agreement of convertible notes with a leading group of Institutional and Family Office funds focused on investments in the biotech sector for an investment of US$800,000.
As quoted in the press release:
Concurrent with the Note Offering, the Company also announced today that it intends complete a non-brokered private placement (the “Non-Brokered Unit Offering”) of units of the Company (the “Units”) at a price of $0.10 per Unit for aggregate gross proceeds of up to C$4,000,000. The Non-Brokered Unit Offering is in addition to BriaCell’s proposed strategic US$800,000 Note Offering and also includes an investment from a recognized Biotech Family office in the United States. Under the Non-Brokered Unit Offering, each Unit shall consist of one Common Share and one Warrant. The Warrants will be valid for 36 months following the date of closing of the Non-Brokered Unit Offering and each Warrant will be exercisable for one Common Share at an exercise price of C$0.14.
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