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Miraculins (TSXV:MOM) has closed a previously announced private placement for a total of $350,000. Proceeds from the placement will be used for general corporate purposes.
Miraculins (TSXV:MOM) has closed a previously announced private placement for a total of $350,000. Proceeds from the placement will be used for general corporate purposes.
As quoted in the press release:
Each whole Warrant entitles the holder to purchase one Share at a price of $0.10 per Share for a period of two years from the date the Warrant is issued. The Shares and Warrants will be restricted from transfer for a period of four months and a day from the date hereof in accordance with applicable securities laws. The net proceeds of the Offering shall be used for general corporate purposes.
A certain person assisted the Company by introducing potential subscribers for the Offering and was paid a finder’s fee of 10% of the total subscription proceeds received from subscribers introduced to the Company by that person. Additionally, this person was issued compensation warrants (“Compensation Warrants”) equal to 10% of the total number of Units subscribed for by subscribers introduced to the Company by this person. Each Compensation Warrant entitles the holder thereof to purchase one Share at a price of $0.10 per Share for a period of one year from the date of issue. The Compensation Warrants will be restricted from transfer for a period of four months and a day from the date hereof in accordance with applicable securities laws.
The closing of the Offering is subject to the final approval of the TSX Venture Exchange.
Click here to read the full Miraculins (TSXV:MOM) press release.
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