Burcon Announces Completion of Rights Offering

Burcon NutraScience (NASDAQ:BUR) is pleased to announce the completion of its rights offering, which expired at 5:00pm (EST) on February 13, 2018. The Rights Offering will result in the issuance of 6,114,361 common shares of Burcon at a price of $0.57 per share for gross proceeds of approximately $3.49 million.

As quoted in the press release:

Burcon is working with its transfer agent to calculate the amounts exercised under the basic subscription privilege and the additional subscription privilege in connection with the Rights Offering and will provide further details, including information required by National Instrument 45-106 – Prospectus Exemptions, once available. Further to the Company’s press release of February 5, 2018 regarding the transfer of its listing to the NASDAQ Capital Market from the NASDAQ Global Market, Burcon confirms that, as a result of the Rights Offering, it has stockholders’ equity of over US$2.5 million, which meets the stockholders’ equity requirement for listing on the NASDAQ Capital Market.

Click here to read the full press release.