Medipure Closes Private Placement and Grants Incentive Shares

Medipure Holdings Inc. (CSE:MDH) announced that it has closed a private placement for 37,500 common shares at a price of $0.80 per share for a total gross proceeds of $30,000. The company also granted 5,000 common shares at a price of $0.80 to each member of its newly appointed scientific advisory board.

As quoted in the press release:

Medipure intends to use the proceeds from this Offering to advance its goal of conducting pioneering research into the development of cannabinoid-based medicines as prescription pharmaceuticals. Proceeds will also be allocated towards the Company’s operations, including product research and development. There were no finder fees paid in connection with the Offering.

Medipure is also pleased to announce that it has granted 5,000 of the Company’s common shares at a deemed price of $0.80 per common share to each member of its newly-appointed Scientific Advisory Board for an aggregate grant of 15,000 common shares. The Company has also granted an aggregate of 265,000 of the Company’s common shares at a deemed price of $0.80 per common share to certain other consultants as a bonus for services rendered during the period beginning April 1, 2015, to the present.

Click here to read the full Medipure Holdings Inc. (CSE:MDH) press release.